Netflix, Inc. (NFLX) Expected to Post Quarterly Sales of $3.99 Billion

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Equities research analysts expect that Netflix, Inc. (NASDAQ:NFLX) will post sales of $3.99 billion for the current quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Netflix’s earnings. The highest sales estimate is $4.00 billion and the lowest is $3.98 billion. Netflix reported sales of $2.98 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 33.9%. The company is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, October 16th.

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 year, analysts forecast that the business will report sales of $19.78 billion, with estimates ranging from $18.66 billion to $21.03 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Netflix.

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

A number of research firms recently commented on NFLX. UBS Group cut Netflix from a “buy” rating to a “neutral” rating and reduced their target price for the company from $425.00 to $237.00 in a research note on Wednesday, July 11th. Credit Suisse Group restated a “neutral” rating and set a $330.00 price target on shares of Netflix in a research report on Thursday, June 21st. JPMorgan Chase & Co. restated a “buy” rating and set a $385.00 price target on shares of Netflix in a research report on Wednesday, July 11th. Pivotal Research upped their price target on shares of Netflix from $420.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, June 21st. Finally, Nomura assumed coverage on shares of Netflix in a research report on Tuesday, July 10th. They set a “neutral” rating and a $370.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $355.69.

In other Netflix news, insider Theodore A. Sarandos sold 111,391 shares of the firm’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $360.00, for a total value of $40,100,760.00. Following the completion of the sale, the insider now directly owns 16,065 shares in the company, valued at $5,783,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David B. Wells sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $376.61, for a total transaction of $376,610.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $376,610. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 420,778 shares of company stock valued at $149,880,028. 4.29% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Berkeley Capital Partners LLC increased its stake in shares of Netflix by 17.3% during the second quarter. Berkeley Capital Partners LLC now owns 1,008 shares of the Internet television network’s stock valued at $273,000 after purchasing an additional 149 shares in the last quarter. Capstone Financial Advisors Inc. increased its stake in shares of Netflix by 17.8% during the second quarter. Capstone Financial Advisors Inc. now owns 1,006 shares of the Internet television network’s stock valued at $394,000 after purchasing an additional 152 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Netflix by 9.6% during the second quarter. Cornerstone Advisors Inc. now owns 1,740 shares of the Internet television network’s stock valued at $681,000 after purchasing an additional 153 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in shares of Netflix by 22.1% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 855 shares of the Internet television network’s stock valued at $335,000 after purchasing an additional 155 shares in the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Netflix by 30.6% during the third quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock valued at $253,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 73.76% of the company’s stock.

NFLX traded down $12.30 during trading on Wednesday, reaching $351.35. The stock had a trading volume of 13,511,780 shares, compared to its average volume of 10,722,383. The stock has a market cap of $162.92 billion, a PE ratio of 281.08, a P/E/G ratio of 4.67 and a beta of 0.89. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.86. Netflix has a one year low of $178.38 and a one year high of $423.21.

Netflix Company Profile

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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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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