Netflix (NASDAQ:NFLX) Posts Earnings Results, Beats Expectations By $0.42 EPS

Netflix (NASDAQ:NFLX) released its quarterly earnings data on Wednesday. The Internet television network reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.42, Bloomberg Earnings reports. The company had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. Netflix updated its Q4 2019 guidance to $0.51-0.51 EPS and its Q4 guidance to $0.51 EPS.

Shares of NFLX opened at $286.28 on Thursday. Netflix has a 52-week low of $231.23 and a 52-week high of $385.99. The business’s fifty day moving average is $280.78 and its 200-day moving average is $332.02. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $125.34 billion, a price-to-earnings ratio of 106.82, a PEG ratio of 2.94 and a beta of 1.20.

NFLX has been the subject of several research reports. Aegis dropped their price target on Netflix from $310.00 to $275.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a report on Thursday, October 3rd. Wedbush reissued an “underperform” rating and set a $188.00 price target on shares of Netflix in a report on Thursday. BidaskClub raised Netflix from a “strong sell” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Co lifted their price target on Netflix from $288.00 to $308.00 and gave the stock a “market perform” rating in a report on Thursday. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $367.65.

In related news, CEO Reed Hastings sold 55,342 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $309.54, for a total transaction of $17,130,562.68. Following the sale, the chief executive officer now owns 55,342 shares in the company, valued at approximately $17,130,562.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradford L. Smith acquired 6,499 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $308.49 per share, for a total transaction of $2,004,876.51. Following the transaction, the director now directly owns 799 shares in the company, valued at $246,483.51. The disclosure for this purchase can be found here. In the last quarter, insiders sold 150,983 shares of company stock worth $44,378,164. Corporate insiders own 4.29% of the company’s stock.

About Netflix

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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Earnings History for Netflix (NASDAQ:NFLX)

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