Netflix (NASDAQ:NFLX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.04 for the period, compared to the Thomson Reuters consensus estimate of $1.04. The company issued revenue guidance of $5.25 billion, compared to the consensus revenue estimate of $5.24 billion.Netflix also updated its Q3 2019 guidance to $1.04-1.04 EPS.
NFLX traded down $3.55 during trading on Wednesday, reaching $362.44. The stock had a trading volume of 8,034,171 shares, compared to its average volume of 7,872,025. The stock has a market cap of $160.28 billion, a price-to-earnings ratio of 135.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.26. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.81. Netflix has a 1-year low of $231.23 and a 1-year high of $386.80. The stock has a 50 day simple moving average of $362.60.
Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.93 billion. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, equities research analysts expect that Netflix will post 3.35 earnings per share for the current fiscal year.
NFLX has been the subject of a number of research analyst reports. Wedbush set a $30.00 target price on Redfin and gave the stock a buy rating in a research report on Friday, July 12th. Deutsche Bank cut J B Hunt Transport Services from a buy rating to a sell rating and set a $98.51 price target on the stock. in a report on Wednesday, April 17th. Evercore ISI reaffirmed an outperform rating and issued a $380.00 price target (up previously from $350.00) on shares of Netflix in a report on Wednesday, July 10th. ValuEngine cut Zuora from a buy rating to a hold rating in a report on Saturday, June 1st. Finally, Credit Suisse Group set a $92.00 price target on Ashland Global and gave the company a buy rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $393.24.
In related news, Director Ann Mather sold 1,208 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the completion of the sale, the director now directly owns 357 shares in the company, valued at $133,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 57,414 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the completion of the sale, the chief executive officer now owns 57,414 shares of the company’s stock, valued at $20,030,596.32. The disclosure for this sale can be found here. Insiders sold 167,486 shares of company stock worth $60,955,416 over the last ninety days. 3.72% of the stock is currently owned by company insiders.
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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