Netflix (NASDAQ:NFLX) Issues Q4 Earnings Guidance

Netflix (NASDAQ:NFLX) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.23 for the period, compared to the consensus earnings per share 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 Analysts Forecast Growth

Several brokerages recently commented on NFLX. Argus lifted their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. TD Cowen upped their target price on shares of Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Macquarie upped their price objective on shares of Netflix from $695.00 to $795.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Sanford C. Bernstein increased their target price on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Netflix in a research note on Friday, July 19th. Two equities research 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $705.74.

Netflix Stock Performance

NFLX stock traded down $14.35 during midday trading on Thursday, reaching $687.65. 7,648,712 shares of the company were exchanged, compared to its average volume of 3,656,126. Netflix has a one year low of $344.73 and a one year high of $736.00. The firm has a market capitalization of $296.38 billion, a price-to-earnings ratio of 47.76, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The business has a 50-day moving average price of $692.63 and a two-hundred day moving average price of $653.38. 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 announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the business earned $3.29 EPS. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. Equities research analysts forecast that Netflix will post 19.08 EPS for the current year.

Insider Activity

In other news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 25,599 shares of the business’s 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 transaction, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by insiders.

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.