Netflix (NFLX) Releases Earnings Results, Beats Expectations By $0.19 EPS

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Netflix (NASDAQ:NFLX) posted its quarterly earnings results on Tuesday. The Internet television network reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.19, RTT News reports. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.50 billion. Netflix had a net margin of 7.67% and a return on equity of 25.82%. Netflix’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. Netflix updated its Q2 2019 guidance to $0.55-0.55 EPS and its Q2 guidance to $0.55 EPS.

Shares of NFLX stock opened at $359.46 on Wednesday. The company has a market cap of $152.32 billion, a price-to-earnings ratio of 134.13, a price-to-earnings-growth ratio of 2.92 and a beta of 1.36. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.49 and a current ratio of 1.49. Netflix has a fifty-two week low of $231.23 and a fifty-two week high of $423.21.

A number of equities analysts recently weighed in on the stock. Credit Suisse Group restated a “buy” rating and set a $440.00 price target on shares of Netflix in a research report on Wednesday, April 3rd. UBS Group assumed coverage on shares of Netflix in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $350.00 price objective on the stock. Rosenblatt Securities assumed coverage on shares of Netflix in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $350.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $480.00 target price on shares of Netflix in a research note on Wednesday, March 20th. Finally, BidaskClub downgraded shares of Netflix from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $383.45.

In related news, Director Anne M. Sweeney sold 1,649 shares of Netflix stock in a transaction on Monday, February 25th. The shares were sold at an average price of $370.00, for a total value of $610,130.00. Following the completion of the sale, the director now owns 609 shares in the company, valued at $225,330. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reed Hastings sold 52,458 shares of Netflix stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $367.25, for a total transaction of $19,265,200.50. Following the completion of the sale, the chief executive officer now owns 52,458 shares of the company’s stock, valued at approximately $19,265,200.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,381 shares of company stock worth $64,721,327. Corporate insiders own 4.29% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Gemmer Asset Management LLC boosted its holdings in shares of Netflix by 14.0% during the first quarter. Gemmer Asset Management LLC now owns 309 shares of the Internet television network’s stock valued at $110,000 after acquiring an additional 38 shares during the period. Allred Capital Management LLC boosted its holdings in shares of Netflix by 4.5% during the first quarter. Allred Capital Management LLC now owns 2,028 shares of the Internet television network’s stock valued at $746,000 after acquiring an additional 87 shares during the period. Shine Investment Advisory Services Inc. lifted its holdings in Netflix by 62.1% in the first quarter. Shine Investment Advisory Services Inc. now owns 274 shares of the Internet television network’s stock worth $98,000 after purchasing an additional 105 shares during the period. Kessler Investment Group LLC lifted its holdings in Netflix by 5.9% in the first quarter. Kessler Investment Group LLC now owns 16,965 shares of the Internet television network’s stock worth $6,049,000 after purchasing an additional 950 shares during the period. Finally, Pennsylvania Trust Co lifted its holdings in Netflix by 1,227.0% in the first quarter. Pennsylvania Trust Co now owns 13,084 shares of the Internet television network’s stock worth $821,000 after purchasing an additional 12,098 shares during the period. Hedge funds and other institutional investors own 76.10% of the company’s stock.

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About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Earnings History for Netflix (NASDAQ:NFLX)

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