FY2018 EPS Estimates for Netflix, Inc. Raised by SunTrust Banks (NFLX)

Netflix, Inc. (NASDAQ:NFLX) – SunTrust Banks raised their FY2018 earnings estimates for shares of Netflix in a research note issued on Wednesday, October 17th. SunTrust Banks analyst M. Thornton now expects 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 currently has a “Buy” rating and a $410.00 target price 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 posted its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the company earned $0.29 EPS. The firm’s revenue was up 34.0% on a year-over-year basis.

Other research analysts have also issued reports about the company. Loop Capital raised their price target on Netflix from $365.00 to $385.00 in a research report on Wednesday. Goldman Sachs Group restated a “$375.13” rating and issued a $470.00 price target on shares of Netflix in a research report on Wednesday, July 18th. Macquarie set a $430.00 price target on Netflix and gave the stock a “buy” rating in a research report on Thursday, June 28th. Bank of America raised their price target on Netflix from $352.00 to $460.00 and gave the stock a “buy” rating in a research report on Wednesday, June 27th. Finally, Barclays set a $450.00 price target on Netflix and gave the stock a “buy” rating in a research report on Monday, July 9th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-one have given a buy rating to the company’s stock. Netflix presently has a consensus rating of “Buy” and a consensus price target of $376.83.

NASDAQ:NFLX opened at $332.67 on Thursday. Netflix has a 12-month low of $178.38 and a 12-month high of $423.21. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.39. The firm has a market capitalization of $158.81 billion, a PE ratio of 279.70, a P/E/G ratio of 4.66 and a beta of 0.89.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. acquired a new stake in shares of Netflix in the second quarter valued at about $117,000. Guidant Wealth Advisors increased its position in shares of Netflix by 190.5% in the second quarter. Guidant Wealth Advisors now owns 305 shares of the Internet television network’s stock valued at $121,000 after acquiring an additional 200 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Netflix in the second quarter valued at about $124,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Netflix in the second quarter valued at about $137,000. Finally, WealthTrust Fairport LLC increased its position in shares of Netflix by 133.3% in the second quarter. WealthTrust Fairport LLC now owns 350 shares of the Internet television network’s stock valued at $137,000 after acquiring an additional 200 shares during the last quarter. 73.83% of the stock is currently owned by hedge funds and other institutional investors.

In other Netflix news, CFO David B. Wells sold 1,000 shares of Netflix stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $359.00, for a total value of $359,000.00. Following the sale, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $359,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of Netflix stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $336.41, for a total value of $7,361,323.62. Following the completion of the sale, the director now directly owns 9,177 shares in the company, valued at approximately $3,087,234.57. The disclosure for this sale can be found here. Insiders sold a total of 403,334 shares of company stock worth $142,463,785 in the last three months. Company insiders own 4.29% of the company’s stock.

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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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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