Netflix (NASDAQ:NFLX) Releases Q4 Earnings Guidance

Netflix (NASDAQ:NFLX) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.23 for the period, compared to the consensus estimate of $3.90. The company issued revenue guidance of $10.128 billion, compared to the consensus revenue estimate of $10.04 billion. Netflix also updated its FY 2024 guidance to EPS.

Netflix Stock Up 11.1 %

Shares of NASDAQ:NFLX opened at $763.89 on Friday. The business’s 50-day moving average is $696.38 and its 200-day moving average is $654.94. The company has a market capitalization of $329.24 billion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix has a 1 year low of $392.26 and a 1 year high of $766.28.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the business earned $3.29 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts predict that Netflix will post 19.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFLX. Rosenblatt Securities boosted their price objective on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday. BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 price objective (up from $770.00) on shares of Netflix in a report on Friday. Redburn Atlantic increased their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, KeyCorp raised their target price on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 over the last three months. 1.76% of the stock is owned by insiders.

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.