Netflix (NASDAQ:NFLX) Updates Q4 Earnings Guidance

Netflix (NASDAQ:NFLX) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $4.23 for the period, compared to the consensus EPS estimate of $3.90. The company issued revenue guidance of $10.128 billion, compared to the consensus revenue estimate of $10.04 billion.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NFLX shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. China Renaissance started coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. Wedbush lifted their price target on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. Loop Capital upped their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their price target on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $705.74.

Netflix Price Performance

NFLX stock traded down $13.80 during trading on Thursday, hitting $688.20. The company had a trading volume of 5,687,449 shares, compared to its average volume of 3,646,368. The company has a fifty day moving average price of $692.63 and a two-hundred day moving average price of $653.38. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $736.00. The company has a market cap of $296.61 billion, a P/E ratio of 48.43, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 EPS. Equities research analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now owns 57 shares in the company, valued at $35,991.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 in the last ninety days. Insiders own 1.76% 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.