Netflix (NASDAQ:NFLX) Updates Q2 2021 Earnings Guidance

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Netflix (NASDAQ:NFLX) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.160-3.160 for the period, compared to the Thomson Reuters consensus estimate of $2.680. The company issued revenue guidance of $7.30 billion-$7.30 billion, compared to the consensus revenue estimate of $7.39 billion.

Shares of NFLX traded down $7.65 on Tuesday, reaching $501.46. The stock had a trading volume of 272,867 shares, compared to its average volume of 4,913,151. Netflix has a twelve month low of $397.86 and a twelve month high of $593.29. The firm has a market capitalization of $222.35 billion, a PE ratio of 80.86, a PEG ratio of 1.86 and a beta of 0.92. The firm has a 50-day moving average of $526.78 and a 200 day moving average of $519.66. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, April 19th. The Internet television network reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.77. Netflix had a return on equity of 31.48% and a net margin of 11.78%. The business had revenue of $7.16 billion during the quarter, compared to analysts’ expectations of $7.13 billion. During the same quarter last year, the business posted $1.57 earnings per share. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix will post 6.27 earnings per share for the current fiscal year.

Several research analysts recently issued reports on NFLX shares. Monness Crespi & Hardt lifted their price objective on Netflix from $600.00 to $650.00 and gave the stock a buy rating in a research report on Wednesday, January 20th. JPMorgan Chase & Co. reiterated a buy rating and set a $600.00 price objective on shares of Netflix in a research report on Wednesday, April 21st. Oppenheimer reaffirmed a buy rating and set a $620.00 price target on shares of Netflix in a research note on Wednesday, April 21st. Morgan Stanley reduced their price objective on shares of Netflix from $700.00 to $650.00 and set an overweight rating on the stock in a research note on Tuesday, April 27th. Finally, Raymond James reiterated a hold rating on shares of Netflix in a report on Friday, April 16th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-eight have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $590.90.

In related news, Director Jay C. Hoag sold 3,578 shares of Netflix stock in a transaction on Monday, February 8th. The stock was sold at an average price of $553.16, for a total transaction of $1,979,206.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 974 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $548.93, for a total value of $534,657.82. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. 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 devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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