Netflix (NASDAQ:NFLX) Releases Q4 2024 Earnings Guidance

Netflix (NASDAQ:NFLX) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 4.230-4.230 for the period, compared to the consensus earnings per share estimate of 5.110. The company issued revenue guidance of $10.1 billion-$10.1 billion, compared to the consensus revenue estimate of $9.8 billion. Netflix also updated its FY 2024 guidance to EPS.

Netflix Trading Down 2.0 %

NFLX traded down $14.35 on Thursday, reaching $687.65. 8,082,720 shares of the company’s stock were exchanged, compared to its average volume of 3,661,295. Netflix has a twelve month low of $344.73 and a twelve month high of $736.00. The company’s 50 day moving average is $692.63 and its 200-day moving average is $653.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $296.38 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its earnings results 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 net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter last year, the firm posted $3.29 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts predict that Netflix will post 19.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NFLX shares. Piper Sandler raised Netflix from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $650.00 to $800.00 in a research report on Monday, October 7th. Wedbush increased their price objective on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen boosted their target price on shares of Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. UBS Group raised their price target on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 price target on shares of Netflix in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $705.74.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated 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 sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,167 shares of company stock valued at $150,492,460. Insiders own 1.76% of the company’s stock.

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.