$8.07 Billion in Sales Expected for Netflix, Inc. (NASDAQ:NFLX) This Quarter

Analysts forecast that Netflix, Inc. (NASDAQ:NFLXGet Rating) will report $8.07 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Netflix’s earnings, with estimates ranging from $8.01 billion to $8.14 billion. Netflix reported sales of $7.34 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.9%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Netflix will report full year sales of $32.62 billion for the current fiscal year, with estimates ranging from $32.37 billion to $33.99 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $35.67 billion, with estimates ranging from $34.29 billion to $38.13 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Netflix.

Netflix (NASDAQ:NFLXGet Rating) last posted its quarterly earnings results on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.61. Netflix had a net margin of 16.47% and a return on equity of 32.01%. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same period in the prior year, the business posted $3.75 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis.

NFLX has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Netflix in a report on Thursday, March 31st. They set a “hold” rating for the company. Evercore ISI dropped their target price on shares of Netflix from $525.00 to $300.00 and set an “in-line” rating for the company in a report on Wednesday, April 20th. Pivotal Research lowered shares of Netflix from a “buy” rating to a “sell” rating and dropped their target price for the stock from $550.00 to $235.00 in a report on Wednesday, April 20th. Robert W. Baird dropped their target price on shares of Netflix from $420.00 to $260.00 in a report on Wednesday, April 20th. Finally, Wedbush upgraded shares of Netflix from a “neutral” rating to an “outperform” rating and set a $280.00 target price for the company in a report on Monday, May 16th. Three equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $386.31.

NASDAQ NFLX opened at $187.83 on Thursday. The company has a 50-day simple moving average of $275.80 and a two-hundred day simple moving average of $430.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. Netflix has a 12-month low of $162.71 and a 12-month high of $700.99. The firm has a market cap of $83.45 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.96 and a beta of 1.28.

Several institutional investors have recently modified their holdings of NFLX. Norges Bank purchased a new position in shares of Netflix during the 4th quarter worth $2,612,150,000. Pershing Square Capital Management L.P. purchased a new position in shares of Netflix during the 1st quarter worth $1,164,962,000. Loomis Sayles & Co. L P boosted its stake in shares of Netflix by 526,574.6% during the 1st quarter. Loomis Sayles & Co. L P now owns 3,107,380 shares of the Internet television network’s stock worth $1,163,993,000 after acquiring an additional 3,106,790 shares during the last quarter. Polen Capital Management LLC boosted its stake in shares of Netflix by 85.7% during the 1st quarter. Polen Capital Management LLC now owns 5,005,530 shares of the Internet television network’s stock worth $1,875,021,000 after acquiring an additional 2,310,617 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Netflix by 8.1% during the 4th quarter. BlackRock Inc. now owns 29,223,880 shares of the Internet television network’s stock valued at $17,605,636,000 after purchasing an additional 2,179,427 shares during the period. Institutional investors and hedge funds own 80.97% of the company’s stock.

Netflix Company Profile (Get Rating)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, 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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