Netflix, Inc. (NASDAQ:NFLX) Expected to Post Q3 2024 Earnings of $4.85 Per Share

Netflix, Inc. (NASDAQ:NFLX) – Analysts at Seaport Res Ptn upped their Q3 2024 earnings estimates for shares of Netflix in a note issued to investors 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 earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis.

Other analysts have also issued reports about the stock. Morgan Stanley upped their price target on shares of Netflix from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Macquarie upped their price target on shares of Netflix from $695.00 to $795.00 and gave the stock an “outperform” rating in a research note on Friday. Sanford C. Bernstein upped their price target on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Pivotal Research upped their price target on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Guggenheim upped their price target on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $702.79.

Netflix Price Performance

NASDAQ NFLX opened at $713.00 on Tuesday. Netflix has a 52 week low of $344.73 and a 52 week high of $736.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market cap of $307.30 billion, a price-to-earnings ratio of 49.48, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a 50-day moving average price of $688.89 and a two-hundred day moving average price of $652.34.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Denver PWM LLC acquired a new stake in Netflix in the 2nd quarter worth $25,000. Valued Wealth Advisors LLC boosted its position in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Netflix during the 4th quarter valued at about $32,000. Indiana Trust & Investment Management CO boosted its position in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. Finally, Proffitt & Goodson Inc. boosted its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at $25,741,260. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is owned by corporate insiders.

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.