William Blair Analysts Reduce Earnings Estimates for Netflix, Inc. (NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Research analysts at William Blair cut their Q2 2019 EPS estimates for shares of Netflix in a note issued to investors on Wednesday, April 17th, Zacks Investment Research reports. William Blair analyst R. Schackart now forecasts that the Internet television network will post earnings of $0.54 per share for the quarter, down from their previous forecast of $0.85. William Blair also issued estimates for Netflix’s Q3 2019 earnings at $0.92 EPS, Q4 2019 earnings at $1.01 EPS, FY2019 earnings at $3.24 EPS and FY2020 earnings at $5.46 EPS.

A number of other equities analysts also recently weighed in on NFLX. Raymond James raised shares of Netflix from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $435.00 to $450.00 in a research note on Friday, January 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $430.00 target price (down from $475.00) on shares of Netflix in a research note on Friday, January 11th. Wedbush reaffirmed a “sell” rating and issued a $150.00 target price on shares of Netflix in a research note on Monday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of Netflix from $425.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, January 14th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $400.00 target price on shares of Netflix in a research note on Tuesday, January 15th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Netflix has an average rating of “Buy” and an average price target of $385.03.

NASDAQ:NFLX traded down $1.71 on Friday, reaching $361.04. The stock had a trading volume of 5,649,532 shares, compared to its average volume of 8,141,229. Netflix has a 1-year low of $231.23 and a 1-year high of $423.21. The firm has a market cap of $158.60 billion, a PE ratio of 134.72, a price-to-earnings-growth ratio of 3.61 and a beta of 1.33. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.81.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.19. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.50 billion. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share.

In related news, CEO Reed Hastings sold 54,418 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $362.00, for a total transaction of $19,699,316.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Sweeney sold 1,649 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $370.00, for a total transaction of $610,130.00. Following the transaction, the director now owns 609 shares of the company’s stock, valued at approximately $225,330. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,440 shares of company stock valued at $63,555,861. Corporate insiders own 4.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. Versant Capital Management Inc grew its holdings in Netflix by 59.3% during the fourth quarter. Versant Capital Management Inc now owns 94 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Clarfeld Financial Advisors LLC acquired a new position in shares of Netflix in the fourth quarter valued at approximately $27,000. Pearl River Capital LLC acquired a new position in shares of Netflix in the fourth quarter valued at approximately $30,000. NuWave Investment Management LLC boosted its holdings in shares of Netflix by 338.5% in the fourth quarter. NuWave Investment Management LLC now owns 114 shares of the Internet television network’s stock valued at $31,000 after buying an additional 88 shares during the period. Finally, Citizens Financial Group Inc RI boosted its holdings in shares of Netflix by 750.0% in the fourth quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock valued at $36,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 76.02% of the company’s stock.

About Netflix

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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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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