Netflix (NASDAQ:NFLX) Updates Q4 2024 Earnings Guidance

by · The Markets Daily

Netflix (NASDAQ:NFLX – Get Free Report) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.230-4.230 for the period, compared to the consensus estimate of 5.110. The company issued revenue guidance of $10.1 billion-$10.1 billion, compared to the consensus revenue estimate of $9.8 billion. Netflix also updated its FY 2024 guidance to EPS.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company’s fifty day moving average is $696.38 and its two-hundred day moving average is $654.66. Netflix has a one year low of $392.26 and a one year high of $766.28. The firm has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX – Get Free Report) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts forecast that Netflix will post 19.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NFLX shares. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday. Canaccord Genuity Group increased their price objective on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday. Citigroup boosted their price target on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. TD Cowen lifted their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wedbush raised their price target on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $739.38.

Check Out Our Latest Stock Analysis on NFLX

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 over the last quarter. 1.76% of the stock is currently owned by insiders.

Netflix Company Profile

(Get Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

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