Netflix (NASDAQ:NFLX) Releases Earnings Results, Beats Expectations By $0.04 EPS

Netflix (NASDAQ:NFLX) issued its quarterly earnings data on Wednesday. The Internet television network reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04, RTT News reports. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The company’s revenue was up 26.0% on a year-over-year basis. Netflix updated its Q3 2019 guidance to $1.04-1.04 EPS and its Q3 guidance to $1.04 EPS.

Shares of NFLX traded down $3.55 on Wednesday, reaching $362.44. 8,034,171 shares of the stock traded hands, compared to its average volume of 7,872,025. The firm has a market cap of $160.28 billion, a price-to-earnings ratio of 135.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.26. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.61 and a current ratio of 0.61. Netflix has a 12 month low of $231.23 and a 12 month high of $386.80. The stock’s 50-day moving average is $362.60.

A number of brokerages recently weighed in on NFLX. BidaskClub cut shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Royal Bank of Canada restated a “neutral” rating and set a $145.00 price objective on shares of Travelers Companies in a research note on Thursday, April 18th. ValuEngine lowered Zuora from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Loop Capital began coverage on TENCENT HOLDING/ADR in a report on Monday, June 3rd. They set a “buy” rating on the stock. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $50.00 target price on shares of Fortis in a report on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Netflix has a consensus rating of “Buy” and an average target price of $393.24.

In other Netflix news, CEO Reed Hastings sold 57,414 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $348.88, for a total value of $20,030,596.32. Following the sale, the chief executive officer now directly owns 57,414 shares in the company, valued at $20,030,596.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,208 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the completion of the sale, the director now owns 357 shares in the company, valued at $133,875. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,486 shares of company stock worth $60,955,416. 3.72% of the stock is currently owned by company insiders.

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.

Further Reading: How To Calculate Debt-to-Equity Ratio

Earnings History for Netflix (NASDAQ:NFLX)

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