Netflix (NASDAQ:NFLX) Issues Q4 2024 Earnings Guidance

Netflix (NASDAQ:NFLX) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.230-4.230 for the period, compared to the consensus earnings per share 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 Stock Performance

Netflix stock opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix has a 1-year low of $392.26 and a 1-year high of $766.28. The company’s 50-day moving average is $696.38 and its 200 day moving average is $654.94.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.53 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Research analysts forecast that Netflix will post 19.08 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on NFLX shares. The Goldman Sachs Group set a $750.00 target price on Netflix in a research note on Friday. Morgan Stanley lifted their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday. Guggenheim upped their target price on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Citigroup lifted their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Leslie J. Kilgore sold 383 shares of the 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 of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by company insiders.

About Netflix

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.