Netflix (NASDAQ:NFLX) updated its third quarter 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.04-1.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.04. The company issued revenue guidance of $5.25-5.25 billion, compared to the consensus revenue estimate of $5.25 billion.
Several research firms have commented on NFLX. ValuEngine cut Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. Wolfe Research began coverage on Netflix in a research note on Thursday, June 20th. They issued an outperform rating and a $442.00 target price on the stock. Royal Bank of Canada restated a neutral rating and issued a $145.00 target price on shares of Travelers Companies in a research note on Thursday, April 18th. BidaskClub cut Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th. Finally, Evercore ISI restated an outperform rating and issued a $380.00 target price (up previously from $350.00) on shares of Netflix in a research note on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $393.24.
NASDAQ NFLX traded down $3.55 during trading on Wednesday, reaching $362.44. The company’s stock had a trading volume of 8,034,171 shares, compared to its average volume of 7,872,025. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. The firm has a market capitalization 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. Netflix has a twelve month low of $231.23 and a twelve month high of $386.80. The business’s fifty day moving average is $362.52.
Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.19. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities analysts predict that Netflix will post 3.35 earnings per share for the current fiscal year.
In other news, Director Ann Mather sold 1,208 shares of Netflix stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the sale, the director now owns 357 shares of the company’s stock, valued at $133,875. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 56,966 shares of Netflix stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the completion of the sale, the chief executive officer now directly owns 56,966 shares in the company, valued at approximately $21,119,574.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,486 shares of company stock worth $60,955,416. Insiders own 3.72% of the company’s stock.
Netflix Company Profile
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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