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Netflix (NFLX) Stock Moves -0.19%: What You Should Know
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Netflix (NFLX - Free Report) closed the most recent trading day at $480.33, moving -0.19% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.59%.
Coming into today, shares of the internet video service had lost 2.78% in the past month. In that same time, the Consumer Discretionary sector lost 2.54%, while the S&P 500 gained 1.2%.
Market participants will be closely following the financial results of Netflix in its upcoming release. The company plans to announce its earnings on January 23, 2024. The company's earnings per share (EPS) are projected to be $2.20, reflecting a 1733.33% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.72 billion, up 11.01% from the year-ago period.
Any recent changes to analyst estimates for Netflix should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.74% higher. Netflix presently features a Zacks Rank of #2 (Buy).
Digging into valuation, Netflix currently has a Forward P/E ratio of 30. This represents a premium compared to its industry's average Forward P/E of 8.48.
One should further note that NFLX currently holds a PEG ratio of 1.41. 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 average PEG ratio for the Broadcast Radio and Television industry stood at 0.61 at the close of the market yesterday.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 215, positioning it in the bottom 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Netflix (NFLX) Stock Moves -0.19%: What You Should Know
Netflix (NFLX - Free Report) closed the most recent trading day at $480.33, moving -0.19% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.56%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.59%.
Coming into today, shares of the internet video service had lost 2.78% in the past month. In that same time, the Consumer Discretionary sector lost 2.54%, while the S&P 500 gained 1.2%.
Market participants will be closely following the financial results of Netflix in its upcoming release. The company plans to announce its earnings on January 23, 2024. The company's earnings per share (EPS) are projected to be $2.20, reflecting a 1733.33% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $8.72 billion, up 11.01% from the year-ago period.
Any recent changes to analyst estimates for Netflix should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.74% higher. Netflix presently features a Zacks Rank of #2 (Buy).
Digging into valuation, Netflix currently has a Forward P/E ratio of 30. This represents a premium compared to its industry's average Forward P/E of 8.48.
One should further note that NFLX currently holds a PEG ratio of 1.41. 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 average PEG ratio for the Broadcast Radio and Television industry stood at 0.61 at the close of the market yesterday.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 215, positioning it in the bottom 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.