Zacks: Analysts Anticipate Netflix, Inc. (NFLX) Will Post Quarterly Sales of $3.99 Billion

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Analysts expect Netflix, Inc. (NASDAQ:NFLX) to post sales of $3.99 billion for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for Netflix’s earnings, with the lowest sales estimate coming in at $3.98 billion and the highest estimate coming in at $4.00 billion. Netflix reported sales of $2.98 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 33.9%. The business is scheduled to announce its next earnings report on Monday, October 15th.

According to Zacks, analysts expect that Netflix will report full year sales of $15.87 billion for the current year, with estimates ranging from $15.76 billion to $16.31 billion. For the next financial year, analysts anticipate that the company will post sales of $19.78 billion per share, with estimates ranging from $18.66 billion to $21.03 billion. Zacks’ sales averages are an average based on a survey of research analysts that cover Netflix.

Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 16th. The Internet television network reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Netflix had a return on equity of 25.66% and a net margin of 7.13%. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the company earned $0.15 EPS. The business’s revenue was up 40.3% compared to the same quarter last year.

Several research analysts have recently issued reports on NFLX shares. Goldman Sachs Group reissued a “$375.13” rating and issued a $470.00 target price on shares of Netflix in a research report on Wednesday, July 18th. Monness Crespi & Hardt increased their target price on Netflix from $375.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, June 19th. Oppenheimer reissued a “buy” rating and issued a $370.00 target price on shares of Netflix in a research report on Thursday, June 14th. Royal Bank of Canada reissued a “buy” rating and issued a $360.00 target price on shares of Netflix in a research report on Friday, June 1st. Finally, MKM Partners increased their target price on Netflix from $320.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, May 29th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $346.99.

In other Netflix news, Director Leslie J. Kilgore sold 1,309 shares of the stock in a transaction on Monday, June 4th. The stock was sold at an average price of $359.97, for a total transaction of $471,200.73. Following the sale, the director now directly owns 35,858 shares in the company, valued at approximately $12,907,804.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David B. Wells sold 1,000 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $314.64, for a total value of $314,640.00. Following the sale, the chief financial officer now owns 1,000 shares in the company, valued at $314,640. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 416,101 shares of company stock worth $152,290,422. Company insiders own 4.29% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. FMR LLC boosted its stake in Netflix by 6.1% during the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after purchasing an additional 1,534,290 shares during the last quarter. BlackRock Inc. boosted its stake in Netflix by 4.2% during the 1st quarter. BlackRock Inc. now owns 26,816,614 shares of the Internet television network’s stock valued at $7,920,289,000 after purchasing an additional 1,069,420 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in Netflix by 39,296.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 929,355 shares of the Internet television network’s stock valued at $2,334,000 after purchasing an additional 926,996 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Netflix by 49,540.2% during the 1st quarter. Summit Trail Advisors LLC now owns 907,422 shares of the Internet television network’s stock valued at $907,000 after purchasing an additional 905,594 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in Netflix by 12.0% during the 1st quarter. Baillie Gifford & Co. now owns 7,794,760 shares of the Internet television network’s stock valued at $2,302,183,000 after purchasing an additional 837,285 shares during the last quarter. Institutional investors and hedge funds own 73.76% of the company’s stock.

Shares of NASDAQ:NFLX opened at $368.04 on Thursday. Netflix has a 52-week low of $164.73 and a 52-week high of $423.21. The company has a market capitalization of $156.25 billion, a PE ratio of 294.50, a PEG ratio of 4.46 and a beta of 0.76. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.54 and a quick ratio of 1.54.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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