Netflix (NASDAQ:NFLX) Updates Q3 Earnings Guidance

Netflix (NASDAQ:NFLX) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.18. The company issued revenue guidance of $7.477 billion, compared to the consensus revenue estimate of $7.48 billion.Netflix also updated its Q3 2021 guidance to $2.550-$2.550 EPS.

Several research analysts have recently commented on the company. Credit Suisse Group raised their price target on Netflix from $586.00 to $643.00 and gave the stock an outperform rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a $590.00 target price (up from $575.00) on shares of Netflix in a report on Wednesday. Wedbush restated an underperform rating and issued a $342.00 price target on shares of Netflix in a research note on Wednesday. Canaccord Genuity cut their price target on Netflix from $670.00 to $650.00 and set a buy rating on the stock in a research note on Wednesday, April 21st. Finally, Truist cut their price target on Netflix from $630.00 to $600.00 in a research note on Wednesday, April 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Netflix presently has an average rating of Buy and a consensus price target of $610.23.

NFLX traded down $4.72 during trading on Thursday, reaching $508.91. The company’s stock had a trading volume of 88,926 shares, compared to its average volume of 3,300,341. Netflix has a 52-week low of $458.60 and a 52-week high of $593.29. The firm has a fifty day moving average of $511.07. The company has a market capitalization of $225.65 billion, a P/E ratio of 53.23, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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). The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.32 billion. Netflix had a net margin of 15.92% and a return on equity of 38.43%. Netflix’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 EPS. As a group, research analysts anticipate that Netflix will post 10.5 EPS for the current year.

In related news, Director Jay C. Hoag sold 2,639 shares of Netflix stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $491.30, for a total transaction of $1,296,540.70. Following the completion of the transaction, the director now directly owns 1,309 shares in the company, valued at approximately $643,111.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by insiders.

About Netflix

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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