Netflix (NFLX) Scheduled to Post Quarterly Earnings on Tuesday

Netflix (NASDAQ:NFLX) is set to issue its quarterly earnings data after the market closes on Tuesday, April 16th. Analysts expect the company to announce earnings of $4.49 per share for the quarter. Netflix has set its Q1 guidance at $4.49 EPS and its Q1 2024 guidance at 4.490-4.490 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The firm had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. Netflix’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. On average, analysts expect Netflix to post $17 EPS for the current fiscal year and $21 EPS for the next fiscal year.

Netflix Price Performance

NASDAQ:NFLX opened at $622.83 on Monday. The business’s 50-day moving average price is $601.51 and its 200 day moving average price is $507.13. The firm has a market cap of $269.54 billion, a P/E ratio of 51.86, a PEG ratio of 1.69 and a beta of 1.22. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America lifted their target price on Netflix from $585.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Citigroup lifted their target price on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Barclays lifted their price target on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Sanford C. Bernstein lifted their price target on Netflix from $390.00 to $490.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $596.97.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 13,655 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,118,342. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SageView Advisory Group LLC boosted its stake in Netflix by 245.0% in the 4th quarter. SageView Advisory Group LLC now owns 3,136 shares of the Internet television network’s stock valued at $1,527,000 after buying an additional 2,227 shares in the last quarter. Sanibel Captiva Trust Company Inc. acquired a new stake in Netflix in the 4th quarter valued at $861,000. Harbour Investments Inc. boosted its stake in Netflix by 2.2% in the 4th quarter. Harbour Investments Inc. now owns 5,145 shares of the Internet television network’s stock valued at $2,505,000 after buying an additional 110 shares in the last quarter. Aspect Partners LLC acquired a new stake in Netflix in the 4th quarter valued at $32,000. Finally, O Dell Group LLC acquired a new stake in Netflix in the 4th quarter valued at $145,000. 80.93% of the stock is owned by institutional investors.

About Netflix

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.