Netflix (NASDAQ:NFLX) Announces Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Netflix (NASDAQ:NFLX) released its earnings results on Monday. The Internet television network reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.19), MarketWatch Earnings reports. Netflix had a return on equity of 31.48% and a net margin of 11.78%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year.

Shares of NFLX stock traded up $85.40 during trading hours on Wednesday, reaching $587.17. 1,418,885 shares of the company’s stock were exchanged, compared to its average volume of 5,115,977. The company has a market cap of $259.41 billion, a P/E ratio of 94.36, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92. The company’s 50 day moving average is $513.56 and its two-hundred day moving average is $502.65. Netflix has a 1 year low of $290.25 and a 1 year high of $575.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.24 and a quick ratio of 1.24.

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In other news, Director Jay C. Hoag sold 21,119 shares of the stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $467.89, for a total transaction of $9,881,368.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rodolphe Belmer sold 2,136 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $488.52, for a total value of $1,043,478.72. Following the transaction, the director now directly owns 215 shares of the company’s stock, valued at $105,031.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 460,566 shares of company stock valued at $241,501,445. Company insiders own 3.40% of the company’s stock.

Several research firms recently commented on NFLX. BMO Capital Markets boosted their target price on Netflix from $625.00 to $700.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. UBS Group raised Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $540.00 to $650.00 in a research report on Wednesday. Piper Sandler upped their price objective on Netflix from $643.00 to $652.00 in a research report on Wednesday. Monness Crespi & Hardt upped their price objective on Netflix from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price objective on shares of Netflix in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Netflix currently has an average rating of “Buy” and a consensus price target of $572.97.

About Netflix

Netflix, Inc provides subscription streaming entertainment service. 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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