Piper Jaffray Companies Research Analysts Lower Earnings Estimates for Netflix, Inc. (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Analysts at Piper Jaffray Companies cut their FY2019 earnings per share (EPS) estimates for Netflix in a note issued to investors on Thursday, October 17th. Piper Jaffray Companies analyst M. Olson now expects that the Internet television network will post earnings per share of $3.34 for the year, down from their prior forecast of $3.55. Piper Jaffray Companies currently has a “Overweight” rating and a $400.00 target price on the stock. Piper Jaffray Companies also issued estimates for Netflix’s Q4 2019 earnings at $0.51 EPS, Q1 2020 earnings at $1.16 EPS, Q2 2020 earnings at $1.43 EPS, Q3 2020 earnings at $1.77 EPS, Q4 2020 earnings at $1.80 EPS, FY2020 earnings at $6.15 EPS and FY2021 earnings at $8.85 EPS.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.25 billion. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business posted $0.89 earnings per share.

Other research analysts have also issued research reports about the company. Wedbush reiterated an “underperform” rating and issued a $188.00 price target on shares of Netflix in a research report on Thursday, October 17th. Sanford C. Bernstein dropped their price target on Netflix from $450.00 to $422.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Pivotal Research dropped their price target on Netflix from $515.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. UBS Group set a $370.00 price target on Netflix and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Aegis dropped their price target on Netflix from $310.00 to $275.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $363.11.

NFLX opened at $278.05 on Monday. The firm has a market cap of $121.74 billion, a P/E ratio of 103.75, a P/E/G ratio of 3.02 and a beta of 1.20. Netflix has a 12 month low of $231.23 and a 12 month high of $385.99. The company has a current ratio of 0.73, a quick ratio of 0.85 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average of $279.43 and a 200 day moving average of $329.98.

In other news, CEO Reed Hastings sold 52,269 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $300.10, for a total transaction of $15,685,926.90. Following the completion of the sale, the chief executive officer now owns 52,269 shares of the company’s stock, valued at $15,685,926.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradford L. Smith purchased 6,499 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the purchase, the director now directly owns 799 shares of the company’s stock, valued at approximately $246,483.51. The disclosure for this purchase can be found here. Insiders own 3.72% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Abbrea Capital LLC raised its stake in Netflix by 2.4% in the second quarter. Abbrea Capital LLC now owns 1,382 shares of the Internet television network’s stock worth $508,000 after buying an additional 32 shares in the last quarter. Lindbrook Capital LLC raised its stake in Netflix by 2.8% in the second quarter. Lindbrook Capital LLC now owns 1,259 shares of the Internet television network’s stock worth $462,000 after buying an additional 34 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in Netflix by 1.8% in the second quarter. Cornerstone Advisors Inc. now owns 1,968 shares of the Internet television network’s stock worth $723,000 after buying an additional 35 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Netflix by 3.3% in the third quarter. Meeder Asset Management Inc. now owns 1,105 shares of the Internet television network’s stock worth $296,000 after buying an additional 35 shares in the last quarter. Finally, Baxter Bros Inc. raised its stake in Netflix by 3.0% in the second quarter. Baxter Bros Inc. now owns 1,226 shares of the Internet television network’s stock worth $450,000 after buying an additional 36 shares in the last quarter. 78.93% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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