FY2018 EPS Estimates for Netflix, Inc. (NFLX) Decreased by Analyst

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Netflix, Inc. (NASDAQ:NFLX) – Wedbush dropped their FY2018 earnings per share estimates for shares of Netflix in a research report issued to clients and investors on Wednesday, October 17th. Wedbush analyst M. Pachter now forecasts that the Internet television network will post earnings of $2.69 per share for the year, down from their prior estimate of $2.70. Wedbush currently has a “Underperform” rating and a $150.00 target price on the stock. Wedbush also issued estimates for Netflix’s Q1 2019 earnings at $0.89 EPS, Q2 2019 earnings at $0.92 EPS and Q3 2019 earnings at $0.95 EPS.

A number of other research firms have also recently issued reports on NFLX. UBS Group cut shares of Netflix from a “buy” rating to a “neutral” rating and dropped their price target for the company from $425.00 to $237.00 in a research note on Wednesday, July 11th. JPMorgan Chase & Co. restated a “buy” rating and issued a $385.00 price objective on shares of Netflix in a report on Wednesday, July 11th. Credit Suisse Group assumed coverage on Netflix in a report on Tuesday, July 10th. They issued an “outperform” rating and a $500.00 price objective on the stock. Nomura assumed coverage on Netflix in a report on Tuesday, July 10th. They issued a “neutral” rating and a $370.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on Netflix from $345.00 to $406.00 and gave the company a “hold” rating in a report on Wednesday, July 11th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-one have assigned a buy rating to the stock. Netflix presently has an average rating of “Buy” and an average target price of $376.83.

Netflix stock opened at $332.67 on Thursday. Netflix has a 1 year low of $178.38 and a 1 year high of $423.21. The firm has a market capitalization of $158.81 billion, a P/E ratio of 279.70, a P/E/G ratio of 4.66 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.39.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Berkeley Capital Partners LLC raised its holdings in Netflix by 17.3% in the 2nd quarter. Berkeley Capital Partners LLC now owns 1,008 shares of the Internet television network’s stock valued at $273,000 after buying an additional 149 shares during the period. Capstone Financial Advisors Inc. grew its position in Netflix by 17.8% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 1,006 shares of the Internet television network’s stock valued at $394,000 after acquiring an additional 152 shares in the last quarter. Cornerstone Advisors Inc. grew its position in Netflix by 9.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,740 shares of the Internet television network’s stock valued at $681,000 after acquiring an additional 153 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its position in Netflix by 22.1% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 855 shares of the Internet television network’s stock valued at $335,000 after acquiring an additional 155 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in Netflix by 30.6% in the 3rd quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock valued at $253,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 73.83% of the company’s stock.

In related news, Director Timothy M. Haley sold 21,882 shares of the business’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $336.41, for a total value of $7,361,323.62. Following the sale, the director now directly owns 9,177 shares in the company, valued at approximately $3,087,234.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Theodore A. Sarandos sold 111,391 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the completion of the sale, the insider now owns 16,065 shares in the company, valued at $5,783,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 403,334 shares of company stock worth $142,463,785. Insiders own 4.29% of the company’s stock.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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