Equities Analysts Offer Predictions for Netflix, Inc.’s Q3 2019 Earnings (NASDAQ:NFLX)

Equities Analysts Offer Predictions for Netflix, Inc.’s Q3 2019 Earnings (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Equities researchers at SunTrust Banks lifted their Q3 2019 EPS estimates for Netflix in a research report issued to clients and investors on Monday, August 19th, according to Zacks Investment Research. SunTrust Banks analyst M. Thornton now expects that the Internet television network will earn $1.04 per share for the quarter, up from their previous estimate of $1.00. SunTrust Banks also issued estimates for Netflix’s FY2019 earnings at $3.15 EPS and FY2020 earnings at $5.46 EPS.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis.

NFLX has been the topic of several other research reports. Pivotal Research reiterated a “buy” rating and set a $515.00 target price (up previously from $500.00) on shares of Netflix in a research report on Wednesday, July 17th. Wedbush boosted their target price on Netflix from $183.00 to $188.00 and gave the stock an “underperform” rating in a research report on Thursday, July 18th. ValuEngine cut Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Citigroup decreased their price target on Netflix from $420.00 to $410.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Raymond James decreased their price target on Netflix from $470.00 to $450.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 18th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $391.38.

NASDAQ NFLX traded up $0.59 on Wednesday, hitting $288.86. 4,912,557 shares of the company’s stock were exchanged, compared to its average volume of 7,901,197. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50-day moving average price is $304.58 and its two-hundred day moving average price is $346.27. Netflix has a fifty-two week low of $231.23 and a fifty-two week high of $386.80. The firm has a market cap of $128.87 billion, a price-to-earnings ratio of 107.78, a P/E/G ratio of 3.01 and a beta of 1.24.

In other news, CEO Reed Hastings sold 51,898 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the completion of the sale, the chief executive officer now directly owns 51,898 shares in the company, valued at approximately $19,352,245.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bradford L. Smith acquired 6,499 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $308.49 per share, with a total value of $2,004,876.51. Following the completion of the acquisition, the director now owns 799 shares in the company, valued at $246,483.51. The disclosure for this purchase can be found here. In the last three months, insiders have sold 160,717 shares of company stock worth $52,621,735. Corporate insiders own 3.72% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP acquired a new stake in Netflix in the 2nd quarter valued at $7,809,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Netflix by 5.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 146,350 shares of the Internet television network’s stock valued at $53,757,000 after purchasing an additional 7,615 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Netflix in the 2nd quarter valued at $1,461,000. EP Wealth Advisors LLC increased its holdings in Netflix by 11.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,614 shares of the Internet television network’s stock valued at $593,000 after purchasing an additional 169 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Netflix by 9.4% in the 2nd quarter. Toronto Dominion Bank now owns 390,722 shares of the Internet television network’s stock valued at $143,489,000 after purchasing an additional 33,702 shares in the last quarter. Institutional investors and hedge funds own 78.95% 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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