Netflix (NASDAQ:NFLX) Issues Q4 2024 Earnings Guidance

Netflix (NASDAQ:NFLX) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.230-4.230 for the period, compared to the consensus EPS estimate of 5.110. The company issued revenue guidance of $10.1 billion-$10.1 billion, compared to the consensus revenue estimate of $9.8 billion. Netflix also updated its FY 2024 guidance to EPS.

Netflix Stock Performance

Shares of NFLX stock opened at $687.65 on Friday. Netflix has a 12-month low of $344.73 and a 12-month high of $736.00. The firm has a market capitalization of $296.38 billion, a price-to-earnings ratio of 47.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The business has a 50 day simple moving average of $693.78 and a 200 day simple moving average of $653.62. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the company posted $3.29 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix will post 19.08 EPS for the current year.

Analyst Ratings Changes

NFLX has been the subject of a number of recent analyst reports. Pivotal Research increased their price objective on Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen increased their price objective on Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Guggenheim upped their target price on Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft upped their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Loop Capital upped their target price on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $713.24.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by insiders.

About Netflix

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.