Q1 2023 EPS Estimates for Netflix, Inc. Cut by KeyCorp (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX – Get Rating) – Equities researchers at KeyCorp lowered their Q1 2023 earnings per share estimates for Netflix in a research report issued on Thursday, January 19th. KeyCorp analyst J. Patterson now anticipates that the Internet television network will post earnings of $2.82 per share for the quarter, down from their prior estimate of $3.14. The consensus estimate for Netflix’s current full-year earnings is $10.66 per share. KeyCorp also issued estimates for Netflix’s Q2 2023 earnings at $3.38 EPS, Q3 2023 earnings at $3.25 EPS, Q4 2023 earnings at $2.15 EPS and FY2024 earnings at $14.79 EPS.

Netflix (NASDAQ:NFLX – Get Rating) last issued its earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.35). The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.85 billion. Netflix had a return on equity of 23.58% and a net margin of 14.21%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share.

Several other brokerages also recently issued reports on NFLX. Evercore ISI upped their price target on Netflix from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday. Moffett Nathanson upped their price target on Netflix from $240.00 to $250.00 and gave the stock a “market perform” rating in a report on Friday. Cowen upped their price target on Netflix from $405.00 to $440.00 in a report on Friday. Canaccord Genuity Group boosted their price objective on Netflix from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. Finally, KGI Securities raised Netflix from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 19th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $340.84.

Netflix Trading Up 8.5 %

Shares of Netflix stock opened at $342.50 on Monday. The stock has a fifty day simple moving average of $304.91 and a 200 day simple moving average of $260.22. Netflix has a 12-month low of $162.71 and a 12-month high of $458.48. The company has a market capitalization of $152.42 billion, a P/E ratio of 34.42, a price-to-earnings-growth ratio of 3.78 and a beta of 1.27. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently modified their holdings of NFLX. Country Club Bank GFN boosted its holdings in Netflix by 8.2% during the 3rd quarter. Country Club Bank GFN now owns 5,945 shares of the Internet television network’s stock valued at $1,425,000 after acquiring an additional 451 shares during the period. Bridgewater Associates LP boosted its holdings in Netflix by 3,001.6% during the 2nd quarter. Bridgewater Associates LP now owns 124,840 shares of the Internet television network’s stock valued at $21,831,000 after acquiring an additional 120,815 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Netflix by 37.6% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,811 shares of the Internet television network’s stock valued at $1,132,000 after acquiring an additional 1,314 shares during the period. Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in Netflix during the 2nd quarter valued at about $302,000. Finally, United Asset Strategies Inc. purchased a new stake in Netflix during the 3rd quarter valued at about $208,000. 77.26% of the stock is currently owned by institutional investors.

Netflix Company Profile

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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.