Netflix (NASDAQ:NFLX) Updates 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 Down 2.0 %

Shares of NFLX traded down $14.35 during mid-day trading on Thursday, hitting $687.65. 8,082,720 shares of the company’s stock were exchanged, compared to its average volume of 3,661,295. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a twelve month low of $344.73 and a twelve month high of $736.00. The firm has a fifty day moving average of $692.63 and a two-hundred day moving average of $653.38. The stock has a market cap of $296.38 billion, a price-to-earnings ratio of 47.76, a P/E/G ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $3.29 earnings per share. On average, sell-side analysts forecast that Netflix will post 19.08 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 price objective on shares of Netflix in a report on Friday, September 20th. China Renaissance assumed coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $750.00 target price on shares of Netflix in a research report on Tuesday, October 8th. Finally, Oppenheimer lifted their price objective on Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $705.74.

Insider Buying and Selling at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Netflix Company Profile

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.