Netflix (NASDAQ:NFLX) Releases Quarterly Earnings Results, Beats Estimates By $0.42 EPS
Netflix (NASDAQ:NFLX) released its quarterly earnings results on Wednesday. The Internet television network reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.05 by $0.42, Bloomberg Earnings reports. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The company had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.25 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The company's revenue for the quarter was up 31.2% compared to the same quarter last year. Netflix updated its Q4 2019 guidance to $0.51-0.51 EPS and its Q4 guidance to $0.51 EPS.
Shares of NASDAQ NFLX traded up $2.03 during mid-day trading on Wednesday, hitting $286.28. 12,045,330 shares of the company traded hands, compared to its average volume of 8,084,515. Netflix has a 1 year low of $231.23 and a 1 year high of $385.99. The stock has a market capitalization of $125.34 billion, a price-to-earnings ratio of 106.82, a PEG ratio of 2.90 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The business has a 50 day moving average of $280.78 and a two-hundred day moving average of $332.02.
In other news, CEO Reed Hastings sold 55,342 shares of the company's stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $309.54, for a total transaction of $17,130,562.68. Following the completion of the sale, the chief executive officer now directly owns 55,342 shares of the company's stock, valued at $17,130,562.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bradford L. Smith bought 6,499 shares of Netflix stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the completion of the acquisition, the director now owns 799 shares of the company's stock, valued at $246,483.51. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 150,983 shares of company stock valued at $44,378,164. 3.72% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on NFLX. Credit Suisse Group set a $440.00 price target on Netflix and gave the stock a "buy" rating in a research note on Thursday, October 10th. Loop Capital set a $425.00 price target on Netflix and gave the stock a "buy" rating in a research note on Monday, September 23rd. Raymond James decreased their price target on Netflix from $450.00 to $415.00 and set a "strong-buy" rating for the company in a research note on Monday. Royal Bank of Canada set a $450.00 price target on Netflix and gave the stock a "buy" rating in a research note on Monday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Netflix in a research note on Thursday, October 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of "Buy" and a consensus price target of $368.95.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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