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The latest trading session saw Netflix (NFLX - Free Report) ending at $672.41, denoting a +0.51% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.16%.
The internet video service's shares have seen an increase of 3.44% over the last month, surpassing the Consumer Discretionary sector's gain of 2.53% and the S&P 500's gain of 2.83%.
The investment community will be paying close attention to the earnings performance of Netflix in its upcoming release. The company is slated to reveal its earnings on July 18, 2024. In that report, analysts expect Netflix to post earnings of $4.70 per share. This would mark year-over-year growth of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $9.53 billion, up 16.36% from the year-ago period.
NFLX's full-year Zacks Consensus Estimates are calling for earnings of $18.31 per share and revenue of $38.75 billion. These results would represent year-over-year changes of +52.2% and +14.91%, respectively.
Investors should also note any recent changes to analyst estimates for Netflix. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Netflix possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Netflix currently has a Forward P/E ratio of 36.53. This indicates a premium in contrast to its industry's Forward P/E of 7.82.
One should further note that NFLX currently holds a PEG ratio of 1.45. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 0.88.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Netflix (NFLX) Laps the Stock Market: Here's Why
The latest trading session saw Netflix (NFLX - Free Report) ending at $672.41, denoting a +0.51% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw an increase of 0.16%.
The internet video service's shares have seen an increase of 3.44% over the last month, surpassing the Consumer Discretionary sector's gain of 2.53% and the S&P 500's gain of 2.83%.
The investment community will be paying close attention to the earnings performance of Netflix in its upcoming release. The company is slated to reveal its earnings on July 18, 2024. In that report, analysts expect Netflix to post earnings of $4.70 per share. This would mark year-over-year growth of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $9.53 billion, up 16.36% from the year-ago period.
NFLX's full-year Zacks Consensus Estimates are calling for earnings of $18.31 per share and revenue of $38.75 billion. These results would represent year-over-year changes of +52.2% and +14.91%, respectively.
Investors should also note any recent changes to analyst estimates for Netflix. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Netflix possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Netflix currently has a Forward P/E ratio of 36.53. This indicates a premium in contrast to its industry's Forward P/E of 7.82.
One should further note that NFLX currently holds a PEG ratio of 1.45. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 0.88.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.