Q3 2023 EPS Estimates for Netflix, Inc. (NASDAQ:NFLX) Lifted by Zacks Research

Posted by Defense World Staff on Aug 5th, 2023

Netflix, Inc. (NASDAQ:NFLX – Free Report) – Investment analysts at Zacks Research lifted their Q3 2023 earnings estimates for shares of Netflix in a research note issued to investors on Wednesday, August 2nd. Zacks Research analyst A. Ganguly now anticipates that the Internet television network will earn $3.52 per share for the quarter, up from their prior forecast of $2.51. The consensus estimate for Netflix’s current full-year earnings is $11.86 per share. Zacks Research also issued estimates for Netflix’s Q4 2023 earnings at $2.13 EPS, FY2023 earnings at $11.82 EPS, Q1 2024 earnings at $3.10 EPS, Q3 2024 earnings at $3.91 EPS, Q4 2024 earnings at $3.86 EPS, FY2024 earnings at $14.62 EPS, Q1 2025 earnings at $3.71 EPS, Q2 2025 earnings at $4.17 EPS and FY2025 earnings at $16.62 EPS.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and set a $450.00 target price on shares of Netflix in a report on Thursday, July 20th. Needham & Company LLC restated a “hold” rating on shares of Netflix in a report on Wednesday, July 26th. JPMorgan Chase & Co. raised their price objective on Netflix from $495.00 to $505.00 and gave the company an “overweight” rating in a report on Thursday, July 20th. Citigroup raised their price objective on Netflix from $400.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, June 29th. Finally, Piper Sandler raised their price objective on Netflix from $350.00 to $440.00 in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.41.

Netflix Price Performance

NFLX stock opened at $431.60 on Friday. The stock has a 50-day moving average price of $428.57 and a two-hundred day moving average price of $367.84. The stock has a market cap of $191.26 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 1.43 and a beta of 1.30. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. Netflix has a 1 year low of $211.73 and a 1 year high of $485.00.

Netflix (NASDAQ:NFLX – Get Free Report) last released its earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.44. The firm had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.20 EPS.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the stock. ETF Managers Group LLC grew its stake in shares of Netflix by 376.5% during the first quarter. ETF Managers Group LLC now owns 9,040 shares of the Internet television network’s stock worth $3,123,000 after buying an additional 7,143 shares during the last quarter. Money Concepts Capital Corp grew its stake in shares of Netflix by 3.4% during the first quarter. Money Concepts Capital Corp now owns 1,039 shares of the Internet television network’s stock worth $359,000 after buying an additional 34 shares during the last quarter. American National Bank grew its stake in shares of Netflix by 170.7% during the first quarter. American National Bank now owns 268 shares of the Internet television network’s stock worth $93,000 after buying an additional 169 shares during the last quarter. Marcum Wealth LLC grew its stake in shares of Netflix by 110.7% during the first quarter. Marcum Wealth LLC now owns 2,071 shares of the Internet television network’s stock worth $715,000 after buying an additional 1,088 shares during the last quarter. Finally, McAdam LLC grew its stake in shares of Netflix by 143.0% during the first quarter. McAdam LLC now owns 1,091 shares of the Internet television network’s stock worth $377,000 after buying an additional 642 shares during the last quarter. Institutional investors own 89.73% of the company’s stock.

Insider Activity

In other news, Director Timothy M. Haley sold 2,359 shares of Netflix stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $400.39, for a total value of $944,520.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 26,012 shares of Netflix stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $402.09, for a total value of $10,459,165.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy M. Haley sold 2,359 shares of Netflix stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $400.39, for a total transaction of $944,520.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,443 shares of company stock worth $36,488,472. Corporate insiders own 2.45% of the company’s stock.

Netflix Company Profile

(Get Free Report)

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.