Netflix (NASDAQ:NFLX) Updates Q2 Earnings Guidance

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Netflix (NASDAQ:NFLX) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $3.16 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.67. The company issued revenue guidance of $7.302 billion, compared to the consensus revenue estimate of $7.37 billion.Netflix also updated its Q2 2021
After-Hours guidance to 3.16-3.16 EPS.

A number of analysts have recently weighed in on the company. TheStreet upgraded Netflix from a c+ rating to a b rating in a research note on Tuesday, December 22nd. Monness Crespi & Hardt raised their price target on Netflix from $600.00 to $650.00 and gave the company a buy rating in a report on Wednesday, January 20th. BMO Capital Markets reiterated a buy rating and issued a $700.00 price target on shares of Netflix in a report on Monday, March 15th. JPMorgan Chase & Co. set a $685.00 price target on Netflix and gave the company a buy rating in a report on Tuesday, April 13th. Finally, DZ Bank upgraded Netflix from a hold rating to a buy rating and set a $650.00 price target on the stock in a report on Thursday, January 21st. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-six have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $587.45.

Shares of NASDAQ:NFLX traded down $4.87 during trading on Tuesday, hitting $549.57. 9,470,085 shares of the company’s stock traded hands, compared to its average volume of 4,634,601. The company has a 50-day moving average price of $528.53 and a 200-day moving average price of $520.85. Netflix has a 52 week low of $393.60 and a 52 week high of $593.29. The company has a market cap of $243.40 billion, a price-to-earnings ratio of 88.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, April 20th. The Internet television network reported $3.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.98 by $0.77. Netflix had a return on equity of 31.48% and a net margin of 11.78%. The business had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter last year, the firm earned $1.57 EPS. Netflix’s revenue for the quarter was up 24.2% compared to the same quarter last year. On average, analysts predict that Netflix will post 6.27 earnings per share for the current fiscal year.

In other Netflix news, Director Jay C. Hoag sold 3,578 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $553.16, for a total transaction of $1,979,206.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica Neal sold 476 shares of the business’s stock in a transaction that occurred on Wednesday, January 20th. The stock was sold at an average price of $564.29, for a total value of $268,602.04. Following the transaction, the insider now directly owns 476 shares in the company, valued at approximately $268,602.04. The disclosure for this sale can be found here. In the last three months, insiders sold 5,028 shares of company stock worth $2,782,466. 3.40% of the stock is owned by insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. 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 devices, 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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