3/17/2024 0 Comments Closing price stock netflixAnd we’re super focused on achieving those objectives and getting back into our investors’ good graces.”Ĭlick here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial and investment news, and more.Īfter the earnings misfire, Pivotal Research Group analyst Jeff Wlodarczak cut his rating on the stock to from “buy” to “sell” and chopped his 12-month price target by almost 60%, to $235 per share. “But internally, we’re really geared up, and this is like our moment to shine. “I know it’s disappointing for investors, and it is for sure,” Hastings said on Netflix’s Q1 video interview Tuesday. To try to right the ship, Netflix is aiming to convert freeloading password-users into subscribers and to roll out a lower-cost, ad-supported tier over the next two years. To read this article on click here.Among other factors, co-CEO Reed Hastings blamed the subscriber shrinkage on “great competition” and the company’s estimate that more than 100 million households are streaming the service using a shared password without paying for it. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. You can find more information on all of these metrics, and much more, on. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. This group has a Zacks Industry Rank of 162, putting it in the bottom 36% of all 250+ industries. The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. The Broadcast Radio and Television was holding an average PEG ratio of 1.39 at yesterday's closing price. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. It is also worth noting that NFLX currently has a PEG ratio of 1.26. For comparison, its industry has an average Forward P/E of 12.25, which means Netflix is trading at a premium to the group. Netflix currently has a Zacks Rank of #3 (Hold).ĭigging into valuation, Netflix currently has a Forward P/E ratio of 31.84. Over the past month, the Zacks Consensus EPS estimate has moved 0.28% lower. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. Our research shows that these estimate changes are directly correlated with near-term stock prices. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Recent revisions tend to reflect the latest near-term business trends. It is also important to note the recent changes to analyst estimates for Netflix. These totals would mark changes of +19.7% and +6.67%, respectively, from last year. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.91 per share and revenue of $33.72 billion. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.53 billion, up 7.59% from the year-ago period. The company is expected to report EPS of $3.49, up 12.58% from the prior-year quarter. Netflix will be looking to display strength as it nears its next earnings release, which is expected to be October 18, 2023. Heading into today, shares of the internet video service had lost 11.8% over the past month, lagging the Consumer Discretionary sector's loss of 4.13% and the S&P 500's loss of 2.86% in that time. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.22%. This change lagged the S&P 500's 0.02% gain on the day. Netflix (NFLX) closed at $377.59 in the latest trading session, marking a -0.44% move from the prior day.
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