$8.07 Billion in Sales Expected for Netflix, Inc. (NASDAQ:NFLX) This Quarter

Analysts expect Netflix, Inc. (NASDAQ:NFLX – Get Rating) to post sales of $8.07 billion for the current quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Netflix’s earnings, with estimates ranging from $8.01 billion to $8.14 billion. Netflix posted sales of $7.34 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The business is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Netflix will report full-year sales of $32.62 billion for the current year, with estimates ranging from $32.37 billion to $33.99 billion. For the next fiscal year, analysts forecast that the company will report sales of $35.67 billion, with estimates ranging from $34.29 billion to $38.13 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Netflix.

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, topping the consensus estimate of $2.92 by $0.61. The firm had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.94 billion. Netflix had a return on equity of 32.01% and a net margin of 16.47%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.75 earnings per share.

Several equities research analysts have issued reports on NFLX shares. Barclays dropped their target price on Netflix from $380.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 20th. Macquarie downgraded Netflix to a “sell” rating in a research report on Friday, April 22nd. Robert W. Baird lowered their price objective on Netflix from $420.00 to $260.00 in a research report on Wednesday, April 20th. Evercore ISI lowered their price objective on Netflix from $525.00 to $300.00 and set an “in-line” rating on the stock in a research report on Wednesday, April 20th. Finally, KGI Securities downgraded Netflix from an “outperform” rating to a “neutral” rating and set a $350.00 price objective on the stock. in a research report on Wednesday, April 20th. Three analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $386.31.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bickling Financial Services Inc. lifted its holdings in shares of Netflix by 7.0% during the first quarter. Bickling Financial Services Inc. now owns 1,566 shares of the Internet television network’s stock valued at $587,000 after purchasing an additional 103 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Netflix by 50.8% during the first quarter. EverSource Wealth Advisors LLC now owns 454 shares of the Internet television network’s stock valued at $169,000 after purchasing an additional 153 shares during the last quarter. L.M. Kohn & Company purchased a new position in shares of Netflix during the first quarter valued at approximately $1,024,000. M Holdings Securities Inc. purchased a new position in shares of Netflix during the first quarter valued at approximately $1,647,000. Finally, Carlson Capital Management lifted its holdings in shares of Netflix by 17.4% during the first quarter. Carlson Capital Management now owns 648 shares of the Internet television network’s stock valued at $243,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.

NASDAQ:NFLX opened at $187.83 on Thursday. The company has a market cap of $83.45 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.96 and a beta of 1.28. The stock’s fifty day moving average price is $275.80 and its two-hundred day moving average price is $430.88. Netflix has a 1 year low of $162.71 and a 1 year high of $700.99. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 1.05.

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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