Netflix, Inc. to Post FY2018 Earnings of $2.62 Per Share, SunTrust Banks Forecasts (NASDAQ:NFLX)

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Netflix, Inc. (NASDAQ:NFLX) – Equities research analysts at SunTrust Banks raised their FY2018 EPS estimates for Netflix in a research note issued on Wednesday, October 17th, Zacks Investment Research reports. SunTrust Banks analyst M. Thornton now anticipates that the Internet television network will post earnings of $2.62 per share for the year, up from their previous forecast of $2.58. SunTrust Banks has a “Buy” rating and a $410.00 price objective on the stock. SunTrust Banks also issued estimates for Netflix’s FY2019 earnings at $3.98 EPS and FY2020 earnings at $6.24 EPS.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The company’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $415.00 target price on shares of Netflix in a research note on Tuesday, July 17th. BidaskClub cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Credit Suisse Group reiterated a “buy” rating and issued a $470.00 target price on shares of Netflix in a research note on Monday, October 1st. B. Riley upped their price target on shares of Netflix from $315.00 to $322.00 and gave the company a “buy” rating in a research note on Wednesday, October 17th. Finally, Sanford C. Bernstein restated a “buy” rating and set a $465.00 price target on shares of Netflix in a research note on Wednesday, October 17th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $378.74.

NFLX traded down $14.45 during midday trading on Thursday, reaching $303.47. The company had a trading volume of 13,462,812 shares, compared to its average volume of 17,085,652. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.66. The stock has a market cap of $142.82 billion, a price-to-earnings ratio of 242.78, a PEG ratio of 4.15 and a beta of 1.18. Netflix has a 12-month low of $178.38 and a 12-month high of $423.21.

In other news, CFO David B. Wells sold 1,000 shares of the stock in a transaction on Monday, November 5th. The shares were sold at an average price of $311.10, for a total value of $311,100.00. Following the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $311,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $340.77, for a total transaction of $238,539.00. Following the completion of the transaction, the director now directly owns 7,393 shares in the company, valued at approximately $2,519,312.61. The disclosure for this sale can be found here. Insiders sold a total of 335,842 shares of company stock worth $113,900,463 over the last quarter. Corporate insiders own 4.29% of the company’s stock.

Several large investors have recently modified their holdings of the company. MCF Advisors LLC bought a new position in shares of Netflix during the 3rd quarter valued at $108,000. Perennial Advisors LLC grew its holdings in shares of Netflix by 2,021.4% during the 3rd quarter. Perennial Advisors LLC now owns 297 shares of the Internet television network’s stock valued at $111,000 after purchasing an additional 283 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Netflix during the 3rd quarter valued at $113,000. CSat Investment Advisory L.P. bought a new position in shares of Netflix during the 2nd quarter valued at $117,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Netflix by 225.5% during the 3rd quarter. Westside Investment Management Inc. now owns 332 shares of the Internet television network’s stock valued at $117,000 after purchasing an additional 230 shares during the last quarter. 74.04% of the stock is currently owned by hedge funds and other institutional investors.

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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