Netflix (NASDAQ:NFLX) Releases Quarterly Earnings Results, Misses Estimates By $0.30 EPS

Netflix (NASDAQ:NFLXGet Rating) issued its quarterly earnings results on Thursday. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.30), RTT News reports. Netflix had a net margin of 16.03% and a return on equity of 27.64%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Netflix updated its Q1 2023 guidance to $2.82-$2.82 EPS and its Q1 guidance to $2.82 EPS.

Netflix Stock Performance

Shares of NFLX opened at $342.50 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a 50 day moving average price of $304.91 and a two-hundred day moving average price of $259.17. The firm has a market capitalization of $152.42 billion, a P/E ratio of 30.69, a P/E/G ratio of 3.69 and a beta of 1.27. Netflix has a 52 week low of $162.71 and a 52 week high of $458.48.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Pension Service grew its holdings in shares of Netflix by 4.1% in the third quarter. National Pension Service now owns 670,077 shares of the Internet television network’s stock valued at $160,624,000 after acquiring an additional 26,502 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Netflix by 29.4% in the third quarter. Captrust Financial Advisors now owns 27,326 shares of the Internet television network’s stock valued at $6,434,000 after acquiring an additional 6,215 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Netflix by 16.8% in the third quarter. CIBC Private Wealth Group LLC now owns 57,343 shares of the Internet television network’s stock valued at $13,501,000 after acquiring an additional 8,235 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Netflix by 11.7% in the third quarter. CreativeOne Wealth LLC now owns 2,210 shares of the Internet television network’s stock valued at $520,000 after acquiring an additional 231 shares in the last quarter. Finally, MUFG Americas Holdings Corp grew its holdings in shares of Netflix by 32.5% in the third quarter. MUFG Americas Holdings Corp now owns 14,104 shares of the Internet television network’s stock valued at $3,321,000 after acquiring an additional 3,459 shares in the last quarter. 77.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NFLX. Guggenheim lifted their price target on Netflix from $305.00 to $375.00 and gave the company a “buy” rating in a research note on Friday. Cowen set a $405.00 price target on Netflix in a research note on Friday, December 9th. Cowen boosted their price objective on Netflix from $405.00 to $440.00 in a research report on Friday. Cfra upgraded Netflix from a “sell” rating to a “buy” rating and set a $310.00 price objective on the stock in a research report on Thursday, December 29th. Finally, Bank of America restated a “buy” rating and set a $370.00 price objective on shares of Netflix in a research report on Tuesday, November 15th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $338.47.

Netflix Company Profile

(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.

See Also

Earnings History for Netflix (NASDAQ:NFLX)

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.