Netflix, Inc. Forecasted to Earn Q3 2021 Earnings of $2.67 Per Share (NASDAQ:NFLX)

Last updated on Monday, July 26, 2021 | 2021 MarketBeat

Netflix, Inc. (NASDAQ:NFLX) - Analysts at Jefferies Financial Group raised their Q3 2021 EPS estimates for shares of Netflix in a research note issued to investors on Wednesday, July 21st. Jefferies Financial Group analyst A. Uerkwitz now anticipates that the Internet television network will earn $2.67 per share for the quarter, up from their prior forecast of $2.02. Jefferies Financial Group has a "Buy" rating and a $620.00 price objective on the stock. Jefferies Financial Group also issued estimates for Netflix's Q4 2021 earnings at $1.06 EPS, FY2022 earnings at $13.23 EPS, FY2023 earnings at $16.64 EPS and FY2024 earnings at $20.87 EPS. Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 19th. The Internet television network reported $2.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $3.16 by ($0.19). Netflix had a net margin of 15.92% and a return on equity of 36.49%. The company had revenue of $7.34 billion for the quarter, compared to analysts' expectations of $7.32 billion. During the same period in the prior year, the firm earned $1.59 earnings per share. The firm's quarterly revenue was up 19.4% on a year-over-year basis.

A number of other brokerages have also recently weighed in on NFLX. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $590.00 price target (up from $575.00) on shares of Netflix in a research report on Wednesday, July 21st. Evercore ISI assumed coverage on shares of Netflix in a research report on Tuesday, April 6th. They issued an "outperform" rating and a $665.00 price objective for the company. Oppenheimer reissued a "buy" rating and issued a $620.00 price objective on shares of Netflix in a research report on Wednesday, July 21st. KGI Securities assumed coverage on shares of Netflix in a research report on Tuesday, June 1st. They issued a "neutral" rating for the company. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $700.00 price objective on shares of Netflix in a research report on Thursday, June 24th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have issued a buy rating to the company. The company presently has an average rating of "Buy" and an average price target of $610.23.

Shares of Netflix stock opened at $515.41 on Monday. The business's fifty day simple moving average is $512.02. The company has a current ratio of 1.23, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Netflix has a twelve month low of $458.60 and a twelve month high of $593.29. The stock has a market cap of $228.53 billion, a PE ratio of 53.41, a price-to-earnings-growth ratio of 1.60 and a beta of 0.74.

A number of hedge funds have recently added to or reduced their stakes in the business. CHICAGO TRUST Co NA lifted its position in Netflix by 37.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 2,544 shares of the Internet television network's stock worth $1,344,000 after buying an additional 694 shares in the last quarter. TCW Group Inc. lifted its position in Netflix by 25.4% in the 2nd quarter. TCW Group Inc. now owns 267,374 shares of the Internet television network's stock worth $141,230,000 after buying an additional 54,109 shares in the last quarter. Archford Capital Strategies LLC lifted its position in Netflix by 10.6% in the 2nd quarter. Archford Capital Strategies LLC now owns 844 shares of the Internet television network's stock worth $446,000 after buying an additional 81 shares in the last quarter. Financial Consulate Inc. bought a new position in shares of Netflix during the 2nd quarter valued at $200,000. Finally, Sitrin Capital Management LLC raised its holdings in shares of Netflix by 24.7% during the 2nd quarter. Sitrin Capital Management LLC now owns 12,752 shares of the Internet television network's stock valued at $6,736,000 after purchasing an additional 2,526 shares in the last quarter. Institutional investors own 79.75% of the company's stock.

In related news, Director Jay C. Hoag sold 2,639 shares of the company's stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $491.30, for a total value of $1,296,540.70. Following the completion of the sale, the director now owns 1,309 shares in the company, valued at approximately $643,111.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Netflix Company Profile

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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