Netflix, Inc. (NASDAQ:NFLX) Forecasted to Earn Q3 2022 Earnings of $2.78 Per Share

Netflix, Inc. (NASDAQ:NFLXGet Rating) – Equities research analysts at William Blair reduced their Q3 2022 EPS estimates for Netflix in a research note issued to investors on Wednesday, April 20th. William Blair analyst R. Schackart now anticipates that the Internet television network will post earnings per share of $2.78 for the quarter, down from their previous estimate of $3.00. William Blair also issued estimates for Netflix’s FY2022 earnings at $10.41 EPS, Q1 2023 earnings at $3.25 EPS, Q2 2023 earnings at $3.29 EPS and Q3 2023 earnings at $3.08 EPS.

Several other equities research analysts also recently issued reports on NFLX. Rosenblatt Securities assumed coverage on shares of Netflix in a research note on Tuesday. They issued a “neutral” rating and a $354.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Netflix from $420.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday. Zacks Investment Research upgraded shares of Netflix from a “sell” rating to a “hold” rating and set a $402.00 price objective on the stock in a research note on Wednesday, March 23rd. Wedbush lowered their price objective on shares of Netflix from $342.00 to $280.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Moffett Nathanson lowered their price objective on shares of Netflix from $460.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, January 21st. Three analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $386.31.

Shares of NFLX stock opened at $218.22 on Friday. Netflix has a 12 month low of $211.52 and a 12 month high of $700.99. The firm has a market cap of $96.95 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97. The stock has a 50 day moving average of $363.91 and a 200-day moving average of $507.94. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.93.

Netflix (NASDAQ:NFLXGet Rating) last posted its earnings results on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.63. Netflix had a return on equity of 35.34% and a net margin of 17.23%. The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same period in the previous year, the company earned $3.75 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis.

In related news, CEO Reed Hastings bought 46,900 shares of Netflix stock in a transaction dated Thursday, January 27th. The shares were bought at an average cost of $390.08 per share, with a total value of $18,294,752.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.68% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Netflix by 8.1% during the 4th quarter. BlackRock Inc. now owns 29,223,880 shares of the Internet television network’s stock worth $17,605,636,000 after purchasing an additional 2,179,427 shares in the last quarter. State Street Corp boosted its stake in Netflix by 1.8% in the fourth quarter. State Street Corp now owns 16,477,179 shares of the Internet television network’s stock valued at $9,926,512,000 after buying an additional 299,165 shares in the last quarter. Capital World Investors boosted its stake in Netflix by 0.4% in the fourth quarter. Capital World Investors now owns 13,268,607 shares of the Internet television network’s stock valued at $7,993,623,000 after buying an additional 50,911 shares in the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 7,192,197 shares of the Internet television network’s stock valued at $4,320,858,000 after buying an additional 209,346 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Netflix by 6.2% in the fourth quarter. Jennison Associates LLC now owns 6,643,284 shares of the Internet television network’s stock valued at $4,002,180,000 after buying an additional 385,522 shares in the last quarter. 81.37% of the stock is currently owned by institutional investors.

Netflix Company Profile (Get Rating)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, 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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