Q2 2022 Earnings Forecast for Netflix, Inc. Issued By KeyCorp (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX – Get Rating) – Investment analysts at KeyCorp raised their Q2 2022 earnings per share (EPS) estimates for shares of Netflix in a report issued on Tuesday, April 19th. KeyCorp analyst J. Patterson now expects that the Internet television network will post earnings of $3.00 per share for the quarter, up from their prior forecast of $2.49. KeyCorp currently has a “Overweight” rating and a $620.00 target price on the stock. KeyCorp also issued estimates for Netflix’s Q3 2022 earnings at $2.66 EPS, Q4 2022 earnings at $1.25 EPS, FY2022 earnings at $10.44 EPS and FY2023 earnings at $12.54 EPS.

Netflix (NASDAQ:NFLX – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The Internet television network reported $3.53 EPS for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.63. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.94 billion. Netflix had a net margin of 17.23% and a return on equity of 35.34%. Netflix’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.75 EPS.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Netflix from $640.00 to $405.00 and set a “buy” rating on the stock in a research note on Wednesday. Oppenheimer cut shares of Netflix from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Wolfe Research lowered their price target on shares of Netflix from $694.00 to $497.00 and set an “outperform” rating on the stock in a research note on Friday, January 21st. Canaccord Genuity Group lowered their price target on shares of Netflix from $600.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Cowen lowered their price target on shares of Netflix from $590.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $386.31.

NASDAQ:NFLX opened at $218.22 on Friday. 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 has a fifty-two week low of $211.52 and a fifty-two week high of $700.99. The stock 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 firm’s fifty day simple moving average is $363.91 and its 200-day simple moving average is $507.94.

In other Netflix news, CEO Reed Hastings purchased 46,900 shares of the business’s stock in a transaction that occurred on Thursday, January 27th. The shares were purchased at an average price of $390.08 per share, for a total transaction of $18,294,752.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.68% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ raised its holdings in Netflix by 267.3% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 378,996 shares of the Internet television network’s stock valued at $231,316,000 after buying an additional 275,804 shares during the period. Tocqueville Asset Management L.P. raised its holdings in Netflix by 1.1% in the third quarter. Tocqueville Asset Management L.P. now owns 24,905 shares of the Internet television network’s stock valued at $15,201,000 after buying an additional 275 shares during the period. Fernbridge Capital Management LP raised its holdings in Netflix by 46.9% in the third quarter. Fernbridge Capital Management LP now owns 121,640 shares of the Internet television network’s stock valued at $74,242,000 after buying an additional 38,847 shares during the period. Personal CFO Solutions LLC raised its holdings in Netflix by 11.1% in the third quarter. Personal CFO Solutions LLC now owns 3,040 shares of the Internet television network’s stock valued at $1,855,000 after buying an additional 304 shares during the period. Finally, We Are One Seven LLC raised its holdings in Netflix by 28.5% in the third quarter. We Are One Seven LLC now owns 5,291 shares of the Internet television network’s stock valued at $3,652,000 after buying an additional 1,174 shares during the period. Hedge funds and other institutional investors own 81.37% of the company’s stock.

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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