Wedbush Brokers Decrease Earnings Estimates for Netflix, Inc. (NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Equities research analysts at Wedbush lowered their Q2 2017 earnings estimates for shares of Netflix in a report issued on Tuesday. Wedbush analyst M. Pachter now anticipates that the Internet television network will earn $0.15 per share for the quarter, down from their previous estimate of $0.19. Wedbush has a “Underperform” rating and a $73.00 price target on the stock. Wedbush also issued estimates for Netflix’s FY2017 earnings at $0.99 EPS, Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.36 EPS and Q4 2018 earnings at $0.41 EPS.

Other analysts have also recently issued reports about the company. Loop Capital lifted their price objective on Netflix from $162.00 to $172.00 and gave the company an “outperform” rating in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a research report on Tuesday. Rosenblatt Securities reiterated a “neutral” rating and set a $155.00 target price on shares of Netflix in a report on Tuesday. Robert W. Baird reiterated a “neutral” rating and set a $138.00 target price on shares of Netflix in a report on Monday, April 3rd. Finally, FBR & Co reiterated a “hold” rating and set a $144.00 target price on shares of Netflix in a report on Tuesday, April 11th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $145.35.

Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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Netflix (NASDAQ:NFLX) opened at 141.18 on Friday. Netflix has a 1-year low of $84.50 and a 1-year high of $148.29. The firm has a 50-day moving average price of $143.46 and a 200-day moving average price of $130.69. The company has a market capitalization of $60.77 billion, a P/E ratio of 328.33 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, April 17th. The Internet television network reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. The firm earned $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Netflix had a return on equity of 7.51% and a net margin of 2.11%. The business’s revenue was up 34.7% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share.

Several large investors have recently added to or reduced their stakes in NFLX. Matrix Capital Management Company LP bought a new stake in Netflix during the third quarter worth about $394,732,000. Viking Global Investors LP increased its stake in Netflix by 145.5% in the fourth quarter. Viking Global Investors LP now owns 6,469,312 shares of the Internet television network’s stock worth $800,901,000 after buying an additional 3,834,045 shares during the period. Norges Bank bought a new stake in Netflix during the fourth quarter worth about $357,283,000. Capital Research Global Investors increased its stake in Netflix by 3.6% in the third quarter. Capital Research Global Investors now owns 51,745,376 shares of the Internet television network’s stock worth $5,099,507,000 after buying an additional 1,777,574 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Netflix during the fourth quarter worth about $136,861,000. 80.42% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Tawni Cranz sold 2,170 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $144.23, for a total value of $312,979.10. Following the sale, the insider now directly owns 2,170 shares of the company’s stock, valued at approximately $312,979.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $141.57, for a total transaction of $283,140.00. Following the completion of the sale, the director now directly owns 8,012 shares in the company, valued at $1,134,258.84. The disclosure for this sale can be found here. Insiders sold a total of 236,281 shares of company stock worth $34,047,161 over the last three months. Insiders own 4.90% of the company’s stock.

About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

5 Day Chart for NASDAQ:NFLX

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