FY2024 EPS Estimates for Netflix Cut by Seaport Res Ptn

Netflix, Inc. (NASDAQ:NFLX) – Analysts at Seaport Res Ptn cut their FY2024 earnings estimates for shares of Netflix in a research report issued on Wednesday, January 15th. Seaport Res Ptn analyst D. Joyce now expects that the Internet television network will earn $19.79 per share for the year, down from their previous estimate of $19.81. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Netflix’s current full-year earnings is $19.76 per share. Seaport Res Ptn also issued estimates for Netflix’s Q1 2025 earnings at $5.95 EPS, Q3 2025 earnings at $6.64 EPS, Q4 2025 earnings at $5.30 EPS and FY2025 earnings at $23.89 EPS.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.11 EPS.

Several other research firms have also recently weighed in on NFLX. UBS Group increased their price target on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price target on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Morgan Stanley upped their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets boosted their price objective on Netflix from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Finally, StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.06.

Netflix Price Performance

NASDAQ NFLX opened at $869.68 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $371.75 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 1.40 and a beta of 1.27. The stock has a 50-day moving average of $885.64 and a 200 day moving average of $760.81. Netflix has a one year low of $479.90 and a one year high of $941.75.

Institutional Investors Weigh In On Netflix

A number of large investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Netflix in the 3rd quarter valued at about $37,000. FSA Wealth Management LLC acquired a new position in shares of Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services purchased a new stake in shares of Netflix in the third quarter valued at approximately $40,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 5,698 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 in the last 90 days. 1.76% of the stock is owned by corporate insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.