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Netflix (NFLX) Rises Higher Than Market: Key Facts
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In the latest market close, Netflix (NFLX - Free Report) reached $705.37, with a +0.62% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.
Shares of the internet video service have appreciated by 2.08% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 3.2% and outperforming the S&P 500's gain of 2%.
The investment community will be closely monitoring the performance of Netflix in its forthcoming earnings report. The company is scheduled to release its earnings on October 17, 2024. The company is expected to report EPS of $5.07, up 35.92% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $9.76 billion, indicating a 14.31% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.08 per share and a revenue of $38.68 billion, representing changes of +58.6% and +14.71%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Netflix. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Netflix is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Netflix is currently trading at a Forward P/E ratio of 36.73. This represents a premium compared to its industry's average Forward P/E of 9.31.
One should further note that NFLX currently holds a PEG ratio of 1.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Broadcast Radio and Television industry currently had an average PEG ratio of 0.88 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 207, placing it within the bottom 19% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Netflix (NFLX) Rises Higher Than Market: Key Facts
In the latest market close, Netflix (NFLX - Free Report) reached $705.37, with a +0.62% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.
Shares of the internet video service have appreciated by 2.08% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 3.2% and outperforming the S&P 500's gain of 2%.
The investment community will be closely monitoring the performance of Netflix in its forthcoming earnings report. The company is scheduled to release its earnings on October 17, 2024. The company is expected to report EPS of $5.07, up 35.92% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $9.76 billion, indicating a 14.31% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $19.08 per share and a revenue of $38.68 billion, representing changes of +58.6% and +14.71%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Netflix. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Netflix is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Netflix is currently trading at a Forward P/E ratio of 36.73. This represents a premium compared to its industry's average Forward P/E of 9.31.
One should further note that NFLX currently holds a PEG ratio of 1.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Broadcast Radio and Television industry currently had an average PEG ratio of 0.88 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 207, placing it within the bottom 19% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.