Published On: Sat, Sep 17th, 2016

Netflix Inc. (NFLX) Given Buy Rating at RBC Capital Markets

Netflix Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by analysts at RBC Capital Markets in a research report issued to clients and investors on Thursday.
NFLX has been the subject of several other research reports. Cantor Fitzgerald reiterated a “buy” rating on shares of Netflix in a research note on Friday, September 9th. FBR & Co reiterated a “market perform” rating and issued a $90.00 price objective on shares of Netflix in a research note on Thursday. Bank of America Corp. reiterated a “buy” rating and issued a $146.00 price objective on shares of Netflix in a research note on Friday, August 26th. William Blair upgraded shares of Netflix from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 24th. Finally, Zacks Investment Research upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Tuesday, June 21st. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Netflix currently has a consensus rating of “Hold” and a consensus target price of $110.48.
Netflix (NASDAQ:NFLX) traded up 2.20% during mid-day trading on Thursday, reaching $99.48. 9,445,109 shares of the company’s stock traded hands. The company has a 50 day moving average price of $96.28 and a 200-day moving average price of $96.25. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27. The stock has a market cap of $42.65 billion, a P/E ratio of 310.88 and a beta of 1.71.

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Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. On average, analysts anticipate that Netflix will post $0.29 EPS for the current year.
In other Netflix news, CEO Reed Hastings sold 113,708 shares of the firm’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $94.85, for a total value of $10,785,203.80. Following the transaction, the chief executive officer now directly owns 113,708 shares of the company’s stock, valued at $10,785,203.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag bought 600,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was purchased at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC boosted its position in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank boosted its position in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the last quarter. 78.43% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.

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