Netflix (NASDAQ:NFLX) Releases Earnings Results, Beats Estimates By $0.07 EPS

by · The Markets Daily

Netflix (NASDAQ:NFLX – Get Free Report) announced its quarterly earnings data on Tuesday. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07, Briefing.com reports. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 EPS.

Netflix Stock Performance

Shares of NFLX opened at $869.68 on Wednesday. The company has a 50-day moving average of $885.64 and a two-hundred day moving average of $760.81. The stock has a market cap of $371.75 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix has a one year low of $479.90 and a one year high of $941.75.

Insider Activity

In related news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 over the last 90 days. 1.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

NFLX has been the subject of several recent research reports. Canaccord Genuity Group upped their target price on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Morgan Stanley increased their target price on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Oppenheimer reduced their price target on shares of Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a report on Wednesday, January 15th. Bank of America upped their price target on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, KeyCorp boosted their target price on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $845.06.

Read Our Latest Report on Netflix

About Netflix

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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.

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