Netflix Inc. (NASDAQ:NFLX) – Stock analysts at FBR & Co reduced their Q3 2016 earnings per share estimates for Netflix in a report issued on Wednesday. FBR & Co analyst B. Crockett now expects that the brokerage will post earnings of $0.05 per share for the quarter, down from their prior estimate of $0.06. FBR & Co has a “Market Perform” rating and a $90.00 price objective on the stock. FBR & Co also issued estimates for Netflix’s FY2016 earnings at $0.29 EPS.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year.
NFLX has been the subject of several other research reports. Needham & Company LLC downgraded shares of Netflix from a “buy” rating to a “hold” rating and boosted their target price for the company from $95.15 to $96.67 in a research note on Tuesday, July 5th. Bank of America Corp. reissued a “buy” rating and issued a $146.00 target price on shares of Netflix in a research note on Friday, August 26th. Wedbush boosted their target price on shares of Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, July 19th. Vetr downgraded shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price for the company. in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $122.00 target price on shares of Netflix in a research note on Wednesday, September 7th. Seven analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $110.97.
Netflix (NASDAQ:NFLX) traded up 0.02% on Friday, hitting $105.09. 4,932,046 shares of the stock traded hands. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 328.41 and a beta of 1.14. The firm’s 50-day moving average price is $97.95 and its 200-day moving average price is $96.30.
In related news, CEO Reed Hastings sold 116,431 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the transaction, the chief executive officer now owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag bought 600,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average cost of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. boosted its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC raised its position in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank raised its position in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares during the period. 78.43% of the stock is owned by institutional investors and hedge funds.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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