Netflix, Inc. Forecasted to Earn Q3 2022 Earnings of $2.13 Per Share (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLXGet Rating) – Analysts at Oppenheimer cut their Q3 2022 earnings estimates for Netflix in a research report issued on Tuesday, July 19th. Oppenheimer analyst J. Kelly now expects that the Internet television network will post earnings per share of $2.13 for the quarter, down from their prior forecast of $2.74. Oppenheimer currently has a “Market Perform” rating on the stock. The consensus estimate for Netflix’s current full-year earnings is $10.48 per share. Oppenheimer also issued estimates for Netflix’s Q4 2022 earnings at $0.99 EPS and FY2023 earnings at $10.47 EPS.

Netflix (NASDAQ:NFLXGet Rating) last announced its quarterly earnings data on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.24. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.03 billion. Netflix had a net margin of 16.42% and a return on equity of 30.07%. Netflix’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $2.97 earnings per share.

Several other equities research analysts also recently issued reports on NFLX. Rosenblatt Securities lowered their price objective on shares of Netflix from $245.00 to $196.00 and set a “neutral” rating on the stock in a research note on Monday, July 18th. Cowen lowered their price objective on shares of Netflix from $590.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 20th. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Thursday, April 21st. Edward Jones downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Finally, Wolfe Research lifted their price target on shares of Netflix from $234.00 to $251.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $323.92.

Netflix Trading Down 1.5 %

Shares of Netflix stock opened at $220.44 on Friday. The company’s fifty day simple moving average is $187.36 and its 200-day simple moving average is $301.60. The company has a market cap of $97.94 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.44 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75. Netflix has a 1 year low of $162.71 and a 1 year high of $700.99.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its position in shares of Netflix by 50.5% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 495 shares of the Internet television network’s stock worth $185,000 after buying an additional 166 shares during the period. Arden Trust Co grew its position in shares of Netflix by 31.8% during the 1st quarter. Arden Trust Co now owns 2,478 shares of the Internet television network’s stock worth $928,000 after buying an additional 598 shares during the period. Allworth Financial LP grew its position in shares of Netflix by 31.1% during the 1st quarter. Allworth Financial LP now owns 8,011 shares of the Internet television network’s stock worth $3,001,000 after buying an additional 1,902 shares during the period. Truist Financial Corp grew its position in shares of Netflix by 35.4% during the 1st quarter. Truist Financial Corp now owns 98,862 shares of the Internet television network’s stock worth $37,032,000 after buying an additional 25,874 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of Netflix by 21.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,287 shares of the Internet television network’s stock worth $4,992,000 after buying an additional 1,441 shares during the period. 80.97% of the stock is owned by institutional investors.

Netflix Company Profile

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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.

Further Reading

Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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