Netflix (NASDAQ:NFLX) Releases Q2 Earnings Guidance

Netflix (NASDAQ:NFLX) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $4.68 for the period, compared to the consensus EPS estimate of $4.54. The company issued revenue guidance of $9.491 billion, compared to the consensus revenue estimate of $9.53 billion.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research analyst reports. Oppenheimer raised their price objective on Netflix from $615.00 to $725.00 and gave the stock an outperform rating in a research note on Monday, March 11th. BMO Capital Markets restated an outperform rating and issued a $713.00 target price (up from $638.00) on shares of Netflix in a research note on Wednesday. Jefferies Financial Group increased their price target on Netflix from $580.00 to $700.00 and gave the stock a buy rating in a research report on Tuesday, March 12th. Loop Capital boosted their price objective on Netflix from $585.00 to $700.00 and gave the company a buy rating in a research report on Monday, March 18th. Finally, UBS Group upped their price objective on Netflix from $570.00 to $685.00 and gave the stock a buy rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $614.75.

Netflix Trading Down 0.5 %

Shares of Netflix stock traded down $3.13 during trading on Thursday, hitting $610.56. The stock had a trading volume of 7,060,797 shares, compared to its average volume of 4,270,205. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The stock has a 50 day simple moving average of $604.73 and a 200 day simple moving average of $511.17. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $264.23 billion, a PE ratio of 51.53, a P/E/G ratio of 1.67 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). The firm had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. Netflix’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. On average, research analysts expect that Netflix will post 17.05 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 268,335 shares of company stock worth $151,619,811. Company insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently modified their holdings of the company. Aspect Partners LLC bought a new stake in Netflix in the 4th quarter valued at $32,000. Evermay Wealth Management LLC raised its position in Netflix by 94.9% in the first quarter. Evermay Wealth Management LLC now owns 115 shares of the Internet television network’s stock worth $40,000 after purchasing an additional 56 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in Netflix during the fourth quarter worth about $42,000. KB Financial Partners LLC boosted its holdings in Netflix by 108.5% during the second quarter. KB Financial Partners LLC now owns 98 shares of the Internet television network’s stock valued at $43,000 after purchasing an additional 51 shares in the last quarter. Finally, Financial Freedom LLC bought a new stake in shares of Netflix in the 4th quarter valued at approximately $47,000. 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.