Q3 2024 EPS Estimates for Netflix, Inc. (NASDAQ:NFLX) Boosted by Seaport Res Ptn

Netflix, Inc. (NASDAQ:NFLX) – Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for Netflix in a research note issued on Sunday, October 13th. Seaport Res Ptn analyst D. Joyce now expects that the Internet television network will earn $4.85 per share for the quarter, up from their previous estimate of $4.66. The consensus estimate for Netflix’s current full-year earnings is $19.08 per share. Seaport Res Ptn also issued estimates for Netflix’s Q4 2024 earnings at $4.56 EPS, FY2024 earnings at $19.57 EPS and FY2025 earnings at $21.86 EPS.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating 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 analyst estimates of $9.53 billion. During the same quarter last year, the company earned $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year.

Several other research firms have also weighed in on NFLX. Citigroup upped their price target on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. KeyCorp lifted their price objective on shares of Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $750.00 price objective on shares of Netflix in a research note on Tuesday, October 8th. Sanford C. Bernstein lifted their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Finally, Pivotal Research boosted their price target on shares of Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Price Performance

Shares of NFLX opened at $705.98 on Tuesday. Netflix has a 12 month low of $344.73 and a 12 month high of $736.00. The company has a market cap of $304.28 billion, a P/E ratio of 48.99, a PEG ratio of 1.49 and a beta of 1.26. The stock has a fifty day moving average price of $690.82 and a 200 day moving average price of $653.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the business’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 transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction dated 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 sale, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. GQG Partners LLC purchased a new stake in shares of Netflix during the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC lifted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares during the period. Global Assets Advisory LLC bought a new position in shares of Netflix during the first quarter valued at $436,514,000. Jericho Capital Asset Management L.P. purchased a new stake in Netflix in the first quarter worth approximately $372,293,000. Finally, Swedbank AB purchased a new stake in Netflix in the 1st quarter worth approximately $216,538,000. 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.