Netflix, Inc. Forecasted to Earn Q3 2024 Earnings of $4.59 Per Share (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Seaport Res Ptn raised their Q3 2024 earnings per share estimates for Netflix in a research note issued on Sunday, May 19th. Seaport Res Ptn analyst D. Joyce now expects that the Internet television network will post earnings per share of $4.59 for the quarter, up from their prior estimate of $4.55. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Netflix’s current full-year earnings is $18.31 per share. Seaport Res Ptn also issued estimates for Netflix’s Q4 2024 earnings at $4.09 EPS and FY2025 earnings at $21.45 EPS.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Other equities analysts have also issued research reports about the stock. Morgan Stanley upped their price target on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Loop Capital boosted their price target on shares of Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. TD Cowen upped their target price on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Finally, KeyCorp boosted their price target on shares of Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $630.53.

Netflix Stock Down 0.7 %

NASDAQ:NFLX opened at $635.67 on Wednesday. Netflix has a 52 week low of $344.73 and a 52 week high of $650.88. The firm has a market capitalization of $273.97 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $606.78 and a 200-day moving average of $547.45.

Insider Buying and Selling

In other news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,039 shares of company stock worth $46,401,083. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Hedge funds have recently bought and sold shares of the company. Obermeyer Wood Investment Counsel Lllp boosted its position in shares of Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after acquiring an additional 17 shares during the period. Private Portfolio Partners LLC increased its position in shares of Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares during the period. KFA Private Wealth Group LLC lifted its position in Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the period. Legacy Capital Group California Inc. increased its holdings in Netflix by 0.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after buying an additional 18 shares during the period. Finally, Founders Financial Alliance LLC lifted its holdings in shares of Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after acquiring an additional 18 shares during the period. 80.93% of the stock is currently owned by institutional investors.

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.