Published On: Fri, Sep 16th, 2016

Netflix Inc. (NFLX) Receives Buy Rating from RBC Capital Markets

Netflix Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by equities research analysts at RBC Capital Markets in a research note issued on Thursday.
NFLX has been the topic of several other reports. Morgan Stanley reaffirmed a “buy” rating and issued a $125.00 target price on shares of Netflix in a report on Monday, June 6th. Needham & Company LLC cut Netflix from a “buy” rating to a “hold” rating and lifted their target price for the stock from $95.15 to $96.67 in a report on Tuesday, July 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Netflix in a report on Monday, May 23rd. Bank of America Corp. reaffirmed a “buy” rating and issued a $146.00 target price on shares of Netflix in a report on Friday, August 26th. Finally, Wedbush lifted their target price on Netflix from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Tuesday, July 19th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $110.48.
Netflix (NASDAQ:NFLX) opened at 97.34 on Thursday. The company has a market cap of $41.73 billion, a price-to-earnings ratio of 304.19 and a beta of 1.71. The firm’s 50-day moving average price is $96.05 and its 200-day moving average price is $96.21. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/16/netflix-inc-nflx-receives-buy-rating-from-rbc-capital-markets.html

Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that Netflix will post $0.29 EPS for the current year.
In other Netflix news, Director Jay C. Hoag purchased 600,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was bought at an average price of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 113,708 shares of the firm’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $94.85, for a total transaction of $10,785,203.80. Following the completion of the transaction, the chief executive officer now directly owns 113,708 shares of the company’s stock, valued at approximately $10,785,203.80. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of NFLX. 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC boosted its stake in 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 period. Coconut Grove Bank boosted its stake in 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 period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in 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 period. 78.43% of the stock is owned by institutional investors.
About Netflix
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.

Receive News & Ratings for Netflix Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Netflix Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>