Netflix, Inc. to Post FY2022 Earnings of $12.61 Per Share, Truist Securiti Forecasts (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Research analysts at Truist Securiti increased their FY2022 earnings per share (EPS) estimates for Netflix in a research report issued on Tuesday, October 12th. Truist Securiti analyst M. Thornton now expects that the Internet television network will post earnings per share of $12.61 for the year, up from their prior forecast of $12.34. Truist Securiti also issued estimates for Netflix’s FY2023 earnings at $15.78 EPS.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.19). Netflix had a net margin of 15.92% and a return on equity of 36.49%. The company had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The company’s quarterly revenue was up 19.4% compared to the same quarter last year.

NFLX has been the subject of a number of other research reports. The Goldman Sachs Group set a $590.00 price objective on shares of Netflix in a report on Wednesday. Guggenheim lifted their target price on shares of Netflix from $600.00 to $685.00 and gave the company a “buy” rating in a report on Friday, October 1st. Wedbush restated an “underperform” rating and set a $342.00 price target on shares of Netflix in a research note on Wednesday, July 21st. Morgan Stanley reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Netflix in a research note on Friday, July 16th. Finally, Credit Suisse Group increased their target price on Netflix from $643.00 to $740.00 and gave the stock an “outperform” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $637.32.

Shares of NASDAQ NFLX opened at $629.76 on Thursday. The stock has a market capitalization of $278.73 billion, a price-to-earnings ratio of 65.26, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. Netflix has a 52 week low of $463.41 and a 52 week high of $646.84. The firm has a 50-day simple moving average of $576.04 and a 200-day simple moving average of $536.89. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.08.

In related news, CEO Theodore A. Sarandos sold 69,707 shares of Netflix stock in a transaction dated Monday, October 4th. The stock was sold at an average price of $625.00, for a total transaction of $43,566,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 939 shares of Netflix stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $510.16, for a total transaction of $479,040.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,927 shares of company stock valued at $68,562,364. 3.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Rosenberg Matthew Hamilton lifted its stake in shares of Netflix by 3.0% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 614 shares of the Internet television network’s stock valued at $375,000 after purchasing an additional 18 shares in the last quarter. Schmidt P J Investment Management Inc. grew its stake in Netflix by 3.1% during the second quarter. Schmidt P J Investment Management Inc. now owns 656 shares of the Internet television network’s stock worth $338,000 after buying an additional 20 shares during the period. Parcion Private Wealth LLC increased its position in shares of Netflix by 1.3% in the second quarter. Parcion Private Wealth LLC now owns 1,609 shares of the Internet television network’s stock worth $850,000 after acquiring an additional 20 shares in the last quarter. Purus Wealth Management LLC increased its position in shares of Netflix by 2.8% in the second quarter. Purus Wealth Management LLC now owns 724 shares of the Internet television network’s stock worth $382,000 after acquiring an additional 20 shares in the last quarter. Finally, LexAurum Advisors LLC raised its stake in shares of Netflix by 2.8% in the 2nd quarter. LexAurum Advisors LLC now owns 732 shares of the Internet television network’s stock valued at $387,000 after acquiring an additional 20 shares during the period. 79.51% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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