Netflix (NASDAQ:NFLX) Lowered to “Neutral” at Citigroup

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Netflix (NASDAQ:NFLX) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Tuesday, The Fly reports.

A number of other research firms have also recently weighed in on NFLX. Nomura raised their price target on Netflix from $310.00 to $330.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $425.00 price objective on shares of Netflix in a research note on Thursday, October 17th. Monness Crespi & Hardt decreased their target price on Netflix from $440.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Evercore ISI lowered their target price on Netflix from $380.00 to $300.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Finally, Morgan Stanley cut their price target on Netflix from $450.00 to $400.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Netflix has a consensus rating of “Hold” and an average target price of $367.08.

NASDAQ:NFLX opened at $309.99 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.81. The firm has a market cap of $137.77 billion, a PE ratio of 115.67, a price-to-earnings-growth ratio of 3.13 and a beta of 1.30. Netflix has a 12 month low of $231.23 and a 12 month high of $385.99. The company’s 50-day moving average price is $292.61 and its two-hundred day moving average price is $315.50.

Netflix (NASDAQ:NFLX) last posted its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.42. The company had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a net margin of 7.49% and a return on equity of 23.65%. Netflix’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, research analysts expect that Netflix will post 3.35 EPS for the current fiscal year.

In related news, CEO Reed Hastings sold 40,061 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $275.64, for a total value of $11,042,414.04. Following the transaction, the chief executive officer now directly owns 40,061 shares in the company, valued at $11,042,414.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 137,949 shares of company stock valued at $39,615,261. 3.72% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Winthrop Partners WNY LLC grew its position in shares of Netflix by 64.9% during the 3rd quarter. Winthrop Partners WNY LLC now owns 94 shares of the Internet television network’s stock worth $25,000 after buying an additional 37 shares during the period. 1 North Wealth Services LLC acquired a new stake in shares of Netflix in the 3rd quarter valued at approximately $25,000. Intercontinental Wealth Advisors LLC raised its position in shares of Netflix by 100.0% in the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 96 shares of the Internet television network’s stock valued at $26,000 after acquiring an additional 48 shares during the period. Fulcrum Equity Management bought a new position in Netflix during the 3rd quarter worth approximately $27,000. Finally, SRS Capital Advisors Inc. bought a new position in Netflix during the 2nd quarter worth approximately $39,000. 80.83% of the stock is owned by institutional investors and hedge funds.

Netflix Company Profile

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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