Netflix (NASDAQ:NFLX) Releases Earnings Results, Beats Estimates By $0.77 EPS

Netflix (NASDAQ:NFLX) issued its earnings results on Thursday. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77, Briefing.com reports. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share.

Netflix Trading Down 0.5 %

NASDAQ:NFLX opened at $610.56 on Friday. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00. The firm has a fifty day simple moving average of $605.77 and a 200-day simple moving average of $511.86. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $264.23 billion, a P/E ratio of 50.84, a PEG ratio of 1.65 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NFLX. Redburn Atlantic raised their target price on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Jefferies Financial Group increased their price objective on shares of Netflix from $580.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 12th. UBS Group increased their price objective on shares of Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Bank of America increased their price objective on shares of Netflix from $585.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company increased their price objective on shares of Netflix from $460.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $614.75.

Insider Buying and Selling

In related news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 over the last 90 days. Insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC raised its position in shares of Netflix by 9.3% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 295 shares of the Internet television network’s stock worth $145,000 after acquiring an additional 25 shares during the period. Gordian Capital Singapore Pte Ltd raised its position in shares of Netflix by 0.3% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 9,821 shares of the Internet television network’s stock worth $4,326,000 after acquiring an additional 25 shares during the period. Coastal Bridge Advisors LLC raised its position in shares of Netflix by 2.2% in the fourth quarter. Coastal Bridge Advisors LLC now owns 1,351 shares of the Internet television network’s stock worth $658,000 after acquiring an additional 29 shares during the period. Cornerstone Wealth Group LLC raised its position in shares of Netflix by 4.6% in the fourth quarter. Cornerstone Wealth Group LLC now owns 752 shares of the Internet television network’s stock worth $366,000 after acquiring an additional 33 shares during the period. Finally, BRYN MAWR TRUST Co raised its position in shares of Netflix by 1.3% in the first quarter. BRYN MAWR TRUST Co now owns 2,483 shares of the Internet television network’s stock worth $858,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.