The Brokerages Expect Netflix, Inc. (NFLX) Will Post Quarterly Sales of $2.76 Billion

The Brokerages Expect Netflix, Inc. (NFLX) Will Post Quarterly Sales of $2.76 Billion

On average, analysts expect that Netflix will report full-year sales of $2.76 billion for the current fiscal year, with estimates ranging from $11.09 billion to $11.4 billion. For the next financial year, analysts expect that the company will post sales of $13.51 billion per share, with estimates ranging from $12.72 billion to $14.24 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Netflix.

Equities research analysts expect Netflix, Inc. (NASDAQ:NFLX) to announce $2.76 billion in sales for the current fiscal quarter, Zacks reports. Thirteen analysts have made estimates for Netflix’s earnings, with the highest sales estimate coming in at $2.77 billion and the lowest estimate coming in at $2.74 billion. Netflix reported sales of $2.11 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 30.8%. The company is scheduled to announce its next earnings report on Monday, July 17th.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, April 17th. The Internet television network reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Netflix had a return on equity of 7.51% and a net margin of 2.11%. The business’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. NFLX has been the subject of a number of recent research reports. Cantor Fitzgerald increased their price objective on Netflix to $160.00 in a report on Thursday, January 19th. Royal Bank of Canada restated a “buy” rating on shares of Netflix in a report on Wednesday, January 18th. Goldman Sachs Group Inc restated a “buy” rating and issued a $155.00 price objective (up from $140.00) on shares of Netflix in a report on Wednesday, January 18th. Canaccord Genuity restated a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of Netflix in a report on Thursday, January 19th. Finally, BTIG Research restated a “buy” rating and issued a $40.00 price objective (down from $170.00) on shares of Netflix in a report on Tuesday, January 17th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $146.24.

In other news, CEO Reed Hastings sold 91,994 shares of Netflix stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $140.97, for a total transaction of $12,968,394.18. Following the completion of the sale, the chief executive officer now directly owns 91,994 shares of the company’s stock, valued at approximately $12,968,394.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tawni Cranz sold 2,135 shares of Netflix stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $146.49, for a total transaction of $312,756.15. Following the sale, the insider now directly owns 2,135 shares of the company’s stock, valued at $312,756.15. The disclosure for this sale can be found here. Insiders have sold a total of 370,241 shares of company stock valued at $53,803,178 over the last ninety days. 4.90% of the stock is currently owned by insiders. Several hedge funds have recently bought and sold shares of the company. Clean Yield Group acquired a new stake in Netflix during the first quarter valued at $103,000. SRS Capital Advisors Inc. increased its stake in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in Netflix during the first quarter valued at $109,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Netflix during the fourth quarter valued at $114,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. 80.42% of the stock is owned by institutional investors.

In other news, CEO Reed Hastings sold 91,994 shares of Netflix stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $140.97, for a total transaction of $12,968,394.18. Following the completion of the sale, the chief executive officer now directly owns 91,994 shares of the company’s stock, valued at approximately $12,968,394.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tawni Cranz sold 2,135 shares of Netflix stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $146.49, for a total transaction of $312,756.15. Following the sale, the insider now directly owns 2,135 shares of the company’s stock, valued at $312,756.15. The disclosure for this sale can be found here. Insiders have sold a total of 370,241 shares of company stock valued at $53,803,178 over the last ninety days. 4.90% of the stock is currently owned by insiders. Netflix (NASDAQ:NFLX) traded down 0.38% during midday trading on Wednesday, hitting $159.41. The stock had a trading volume of 3,456,546 shares. The company has a 50-day moving average of $149.43 and a 200-day moving average of $136.32. Netflix has a 1-year low of $84.50 and a 1-year high of $161.78. The stock has a market cap of $68.70 billion, a price-to-earnings ratio of 206.22 and a beta of 1.27.

About Netflix Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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