At the end of the day, Netflix was worth $327.26, which was down by 0.09%. This change was less than the S&P 500’s daily gain of 1.29%. The Dow went up 0.8%, while the tech-focused Nasdaq went up 10.96%.
In the last month, shares of Internet video services went up by 2.25 percent. Consumer Discretionary went up 4.17 percent, but the S&P 500 went down 0.23 percent.
Netflix will aim to show strength ahead of its January 19, 2023 earnings announcement. Netflix is likely to report a loss of 66.17%, or $0.45 per share, compared to the same time last year. Our most recent consensus estimate is that quarterly sales will be $7.84 billion, which is up 1.67 percent from last year’s estimate.
Investors should also monitor Netflix analyst estimate fluctuations. These changes show how business patterns change in the short term. So, positive changes to estimates show the company’s business outlook.
Our data suggest that near-team stock fluctuations cause these estimate modifications. This helps the Zacks Rank, which is a unique method that takes into account changes to estimates and gives an actionable grading system.
Since 1988, the #1 stocks in the Zacks Rank have made an average annual return of +25%. Last month, the Zacks Consensus EPS forecast dropped by 0.24%. Zacks ranks Netflix third (Hold).
Netflix has a Forward P/E of 30.64. Netflix’s Forward P/E is higher than the 15.4 of its industry.
NFLX has a PEG of 3.6. The PEG ratio, like the P/E ratio, also considers the stock’s predicted profit growth rate. As of yesterday, the average PEG ratio for the Broadcast Radio and TV industry was 1.61.
Broadcast radio and television are examples of consumer discretionary goods. This industry is ranked 196th out of more than 250 that Zacks looks at. The Zacks Industry Rank ranks sectors by their average Zacks Rank.
Our research shows that the top 50% of industries do twice as well as the bottom 50%. Use Zacks.com to keep track of these and other stock-moving factors in the coming trading sessions.
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