Netflix (NFLX) Reaches New 52-Week High and Low Following Better-Than-Expected Earnings

Netflix (NASDAQ:NFLX) reached a new 52-week high and low during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as low as $337.89 and last traded at $337.57, with a volume of 23067764 shares trading hands. The stock had previously closed at $307.78.

The Internet television network reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS.

How to Become a New Pot Stock Millionaire

A number of brokerages have commented on NFLX. Aegis restated a “hold” rating and issued a $230.00 target price on shares of Netflix in a research note on Monday. Robert W. Baird upped their target price on shares of Netflix from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday. Credit Suisse Group upped their target price on shares of Netflix from $286.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday. Monness Crespi & Hardt restated a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Netflix in a research note on Wednesday, April 11th. Finally, Sanford C. Bernstein upped their target price on shares of Netflix from $340.00 to $372.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Netflix presently has an average rating of “Buy” and a consensus price target of $293.22.

In other Netflix news, insider Gregory K. Peters sold 9,618 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $325.00, for a total transaction of $3,125,850.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $283.39, for a total transaction of $198,373.00. Following the transaction, the director now owns 7,393 shares in the company, valued at approximately $2,095,102.27. The disclosure for this sale can be found here. Insiders have sold 442,200 shares of company stock valued at $119,779,880 in the last three months. 4.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of NFLX. Cambridge Investment Research Advisors Inc. increased its stake in shares of Netflix by 4.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 46,013 shares of the Internet television network’s stock worth $8,833,000 after acquiring an additional 1,801 shares during the period. Navellier & Associates Inc increased its stake in shares of Netflix by 8.4% in the fourth quarter. Navellier & Associates Inc now owns 3,991 shares of the Internet television network’s stock worth $766,000 after acquiring an additional 309 shares during the period. Assetmark Inc. increased its stake in shares of Netflix by 1,148.5% in the fourth quarter. Assetmark Inc. now owns 14,395 shares of the Internet television network’s stock worth $2,763,000 after acquiring an additional 13,242 shares during the period. Maryland Capital Management acquired a new stake in shares of Netflix in the fourth quarter worth $249,000. Finally, Pittenger & Anderson Inc. increased its stake in shares of Netflix by 14.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 12,480 shares of the Internet television network’s stock worth $2,396,000 after acquiring an additional 1,565 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.

The company has a market capitalization of $135,240.03, a price-to-earnings ratio of 270.45, a price-to-earnings-growth ratio of 4.27 and a beta of 0.99. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81.

COPYRIGHT VIOLATION NOTICE: “Netflix (NFLX) Reaches New 52-Week High and Low Following Better-Than-Expected Earnings” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally copied and republished in violation of international copyright & trademark laws. The original version of this piece can be accessed at https://ledgergazette.com/2018/04/17/netflix-nflx-reaches-new-52-week-high-and-low-following-better-than-expected-earnings.html.

Netflix Company Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply