Netflix (NFLX) Updates Q2 2019 Earnings Guidance

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Netflix (NASDAQ:NFLX) updated its second quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.55-0.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.99. The company issued revenue guidance of $4.928-4.928 billion, compared to the consensus revenue estimate of $4.95 billion.Netflix also updated its Q2 guidance to $0.55 EPS.

A number of research firms have recently weighed in on NFLX. Credit Suisse Group restated a buy rating and set a $440.00 price target on shares of Netflix in a report on Wednesday, April 3rd. UBS Group started coverage on shares of Netflix in a report on Tuesday, April 2nd. They set a neutral rating and a $350.00 price target on the stock. Rosenblatt Securities started coverage on shares of Netflix in a research note on Tuesday, April 2nd. They issued a neutral rating and a $350.00 target price on the stock. Royal Bank of Canada reiterated a buy rating and issued a $480.00 target price on shares of Netflix in a research note on Wednesday, March 20th. Finally, BidaskClub lowered shares of Netflix from a hold rating to a sell rating in a research note on Wednesday, April 10th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Netflix has an average rating of Buy and a consensus price target of $383.33.

NASDAQ NFLX opened at $359.46 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.98. Netflix has a 52-week low of $231.23 and a 52-week high of $423.21. The firm has a market capitalization of $152.32 billion, a price-to-earnings ratio of 134.13, a P/E/G ratio of 2.92 and a beta of 1.36.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.19. Netflix had a net margin of 7.67% and a return on equity of 25.82%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue was up 22.2% on a year-over-year basis. Research analysts forecast that Netflix will post 3.98 EPS for the current fiscal year.

In other Netflix news, Director Anne M. Sweeney sold 342 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $360.00, for a total value of $123,120.00. Following the completion of the transaction, the director now directly owns 342 shares of the company’s stock, valued at $123,120. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Reed Hastings sold 67,907 shares of the business’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $328.17, for a total transaction of $22,285,040.19. Following the completion of the transaction, the chief executive officer now directly owns 67,907 shares of the company’s stock, valued at $22,285,040.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,381 shares of company stock worth $64,721,327. 4.29% of the stock is owned by company insiders.

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About Netflix

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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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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