Q3 2024 EPS Estimates for Netflix, Inc. Lowered by Analyst (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Seaport Res Ptn reduced their Q3 2024 earnings estimates for Netflix in a research report issued to clients and investors on Friday, April 19th. Seaport Res Ptn analyst D. Joyce now expects that the Internet television network will earn $4.55 per share for the quarter, down from their previous forecast of $4.56. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Netflix’s current full-year earnings is $17.13 per share. Seaport Res Ptn also issued estimates for Netflix’s Q1 2025 earnings at $5.81 EPS, Q2 2025 earnings at $5.69 EPS, Q3 2025 earnings at $5.48 EPS and FY2025 earnings at $22.18 EPS.

Several other equities research analysts have also weighed in on NFLX. Canaccord Genuity Group reiterated a “hold” rating and set a $585.00 price objective (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Wedbush restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. UBS Group raised their price target on shares of Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. TD Cowen raised their price target on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Citigroup raised their price target on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $630.58.

Netflix Price Performance

NFLX opened at $577.75 on Monday. The firm has a market cap of $248.95 billion, a price-to-earnings ratio of 40.09, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company’s 50-day moving average price is $606.05 and its 200 day moving average price is $517.65. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently made changes to their positions in the company. KFA Private Wealth Group LLC lifted its position in shares of Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after acquiring an additional 18 shares in the last quarter. Legacy Capital Group California Inc. lifted its position in Netflix by 0.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after buying an additional 18 shares in the last quarter. Founders Financial Alliance LLC lifted its position in Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after buying an additional 18 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after buying an additional 18 shares in the last quarter. Finally, Addison Advisors LLC lifted its position in Netflix by 7.8% in the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 5,533 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,526,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 5,533 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,526,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,106 shares of company stock worth $92,729,716. Corporate insiders own 2.45% of the company’s stock.

Netflix Company Profile

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.