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Netflix (NFLX) Stock Moves -0.44%: What You Should Know
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In the latest trading session, Netflix (NFLX - Free Report) closed at $346.75, marking a -0.44% move from the previous day. This change was narrower than the S&P 500's 0.58% loss on the day. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Heading into today, shares of the internet video service had gained 11.62% over the past month, outpacing the Consumer Discretionary sector's loss of 0.47% and the S&P 500's gain of 2% in that time.
Netflix will be looking to display strength as it nears its next earnings release, which is expected to be April 18, 2023. In that report, analysts expect Netflix to post earnings of $2.81 per share. This would mark a year-over-year decline of 20.4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.18 billion, up 3.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.27 per share and revenue of $34.27 billion, which would represent changes of +13.27% and +8.39%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Netflix. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Netflix is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Netflix is holding a Forward P/E ratio of 30.9. This valuation marks a premium compared to its industry's average Forward P/E of 11.25.
We can also see that NFLX currently has a PEG ratio of 1.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Broadcast Radio and Television industry currently had an average PEG ratio of 1.61 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Netflix (NFLX) Stock Moves -0.44%: What You Should Know
In the latest trading session, Netflix (NFLX - Free Report) closed at $346.75, marking a -0.44% move from the previous day. This change was narrower than the S&P 500's 0.58% loss on the day. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Heading into today, shares of the internet video service had gained 11.62% over the past month, outpacing the Consumer Discretionary sector's loss of 0.47% and the S&P 500's gain of 2% in that time.
Netflix will be looking to display strength as it nears its next earnings release, which is expected to be April 18, 2023. In that report, analysts expect Netflix to post earnings of $2.81 per share. This would mark a year-over-year decline of 20.4%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.18 billion, up 3.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.27 per share and revenue of $34.27 billion, which would represent changes of +13.27% and +8.39%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Netflix. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Netflix is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Netflix is holding a Forward P/E ratio of 30.9. This valuation marks a premium compared to its industry's average Forward P/E of 11.25.
We can also see that NFLX currently has a PEG ratio of 1.61. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Broadcast Radio and Television industry currently had an average PEG ratio of 1.61 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.