Netflix (NASDAQ:NFLX) Issues Q2 2022 Earnings Guidance

Netflix (NASDAQ:NFLX – Get Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.000-$3.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.010. The company issued revenue guidance of $8.05 billion-$8.05 billion, compared to the consensus revenue estimate of $8.21 billion.

NFLX has been the topic of several analyst reports. Evercore ISI dropped their price target on shares of Netflix from $525.00 to $300.00 and set an in-line rating on the stock in a research note on Wednesday, April 20th. Macquarie cut shares of Netflix to a sell rating in a report on Friday. Moffett Nathanson decreased their price target on shares of Netflix from $460.00 to $375.00 and set a neutral rating on the stock in a research report on Friday, January 21st. Zacks Investment Research raised Netflix from a sell rating to a hold rating and set a $402.00 target price on the stock in a research report on Wednesday, March 23rd. Finally, TheStreet lowered Netflix from a b rating to a c+ rating in a report on Thursday, January 20th. Three equities research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and eleven have given a buy rating to the stock. 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 opened at $209.91 on Tuesday. The stock has a market cap of $93.26 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 0.81 and a beta of 0.97. The company has a quick ratio of 0.95, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. Netflix has a 12 month low of $204.51 and a 12 month high of $700.99. The company has a 50-day moving average price of $356.34 and a two-hundred day moving average price of $500.22.

Netflix (NASDAQ:NFLX – Get Rating) last posted its earnings results on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.63. Netflix had a net margin of 16.47% and a return on equity of 32.01%. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the previous year, the company posted $3.75 earnings per share. Netflix’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Netflix will post 10.88 EPS for the current fiscal year.

In related news, CEO Reed Hastings purchased 46,900 shares of the stock in a transaction that occurred on Thursday, January 27th. The stock was acquired at an average price of $390.08 per share, with a total value of $18,294,752.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Raleigh Capital Management Inc. bought a new stake in shares of Netflix during the 4th quarter valued at $34,000. Crestwood Advisors Group LLC increased its position in shares of Netflix by 12.0% in the 4th quarter. Crestwood Advisors Group LLC now owns 1,009 shares of the Internet television network’s stock valued at $608,000 after buying an additional 108 shares in the last quarter. Keudell Morrison Wealth Management increased its position in shares of Netflix by 23.3% in the 3rd quarter. Keudell Morrison Wealth Management now owns 1,006 shares of the Internet television network’s stock valued at $614,000 after buying an additional 190 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Netflix by 2.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 8,198 shares of the Internet television network’s stock valued at $4,939,000 after buying an additional 200 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in shares of Netflix in the 4th quarter valued at $248,000. Institutional investors own 81.37% of the company’s stock.

About Netflix (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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