Netflix Inc
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Communication Services : Entertainment | Large Cap Growth
Company profile

Netflix, Inc. is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States. The Domestic DVD segment includes services, such as digital optical disc (DVD)-by-mail. The Company's members can watch original series, documentaries, feature films, as well as television shows and movies directly on their Internet-connected screen, televisions, computers and mobile devices. It offers its streaming services both domestically and internationally. In the United States, its members can receive DVDs delivered to their homes. The Company had members streaming in over 190 countries, as of December 31, 2016.

Closing Price
$493.16
Day's Change
-0.65 (-0.13%)
Bid
--
Ask
--
B/A Size
--
Day's High
504.82
Day's Low
490.83
Volume
(Average)
Volume:
5,669,870

10-day average volume:
6,050,377
5,669,870

UPDATE: Wall Street has slashed these S&P 500 companies' estimates by as much as 70%

8:52 am ET February 24, 2020 (MarketWatch)
Print

By Philip van Doorn, MarketWatch

Analysts still love half of the companies with the greatest cuts in sales estimates

Wall Street analysts tend to accentuate the positive -- after all, their broker colleagues have stocks to sell. Indeed, there currently is not a single company within the S&P 500 with majority "sell" or equivalent ratings among analysts polled by FactSet, and that's hardly unusual.

Analysts will lower their revenue and earnings estimates for various reasons, including poor financial quarters, negative guidance from companies, legal challenges or sales and supply disruptions from world events, such as the coronavirus. But a sharp decline in consensus may not be bad news, as it might not mean analysts have soured on a company's prospects. It may reflect an accounting change, the sale of a business unit or other events. So it's important to do your own research on any company listed below that interests you.

Severe estimate cuts may be particularly alarming now, because stock valuations have risen so much. The weighted aggregate forward price-to-earnings ratio for the S&P 500 has increased to 19 from 16.3 over the past 12 months, according to FactSet.

Also see:Wall Street has boosted 2020 estimates for these S&P 500 companies the most (http://www.marketwatch.com/story/wall-street-has-boosted-2020-estimates-for-these-sp-500-companies-the-most-2020-02-21)

Still, focusing on negative events can provide insight into industry developments and may even highlight investment opportunities if you can become confident, through your own research, that a company is likely to improve from its current distress.

So here are lists of companies whose consensus revenue or earnings estimates for this calendar year have been cut the most since the end of 2019.

Largest sales estimate cuts

Here are the 10 S&P 500 companies with the largest declines in consensus 2020 revenue estimates since the end of 2019:

Company Ticker Industry Decline in sales estimate from Dec. 31 to Feb. 20 Change in EPS estimate from Dec 31 to Feb. 20

Boeing Co. US:BA Aerospace & Defense -20.0% -70.1%

Global Payments Inc. US:GPN Data Processing Services -16.1% 0.3%

Danaher Corp. US:DHR Medical Specialties -13.7% -4.7%

Cabot Oil & Gas Corp. US:COG Integrated Oil -12.2% -31.4%

eBay Inc. US:EBAY Other Consumer Services -11.4% 4.0%

Wynn Resorts Ltd. US:WYNN Casinos/Gaming -10.4% -50.3%

Abiomed Inc. US:ABMD Medical Specialties -7.5% -6.3%

CF Industries Holdings Inc. US:CF Chemicals: Agricultural -7.2% -25.1%

Under Armour Inc. Class A US:UAA Apparel/Footwear -7.0% -69.9%

Hologic Inc. US:HOLX Medical Specialties -6.9% 0.5%

Source: FactSet

You can click on the tickers for more about each company.

The consensus 2020 sales estimate for Global Payments (GPN) declined 16% between Dec. 31 and Feb. 20. The company explained that this reflected a change in how it calculates adjusted net revenue.

Global Payments completed its merger with Total System Services on Sep. 18. Global Payments Chief Operating Officer Cameron Bready said during the company's third-quarter earnings conference call Oct. 31 that "based on feedback from the SEC [Securities and Exchange Commission]," the company expected, going forward, "to report on an adjusted net revenue basis excluding the addition of network fees," according to a transcript provided by FactSet.

Bready further explained: "Although we believe adjusted net revenue plus network fees provides useful insight into the economics of our business in a manner consistent with how the company assesses and measures performance, the SEC has requested we discontinue its use. As a result, we'll report without the addition of network fees in the future, consistent with how TSYS [Total System Services] has reflected this item historically."

Here's a link to the company's third-quarter earnings press release (https://investors.globalpaymentsinc.com/static-files/07d9187e-2cf4-416b-b9f2-055ca1d961f0), which further explains the accounting changes. For all of 2019, Global Payments reported GAAP revenue of $4.92 billion, increasing 46% from $3.37 billion in 2018. Adjusted net revenue for 2019 rose 48% to $4.59 billion from $3.10 billion in 2018. The adjusted revenue numbers excluded $1.05 billion in network fees in 2019 and $0.87 billion in 2018. Here's a link to the fourth-quarter earnings release (https://www.sec.gov/Archives/edgar/data/1123360/000112336020000005/ex991earningsrelease12.htm).

Here's a summary of current analyst opinion for all the companies on the list above, which includes changes in consensus price targets:

Company Ticker share 'buy' ratings Share neutral ratings Share 'sell' ratings Closing price - Feb. 20 Cons. price target Implied 12-month upside potential Change in price target since Dec. 31

Boeing Co. US:BA 31% 65% 4% $336.28 $352.05 5% -9%

Global Payments Inc. US:GPN 81% 16% 3% $208.47 $223.43 7% 14%

Danaher Corp. US:DHR 79% 16% 5% $160.26 $175.76 10% 9%

Cabot Oil & Gas Corp. US:COG 52% 41% 7% $15.35 $19.33 26% -11%

eBay Inc. US:EBAY 27% 64% 9% $37.69 $39.20 4% -2%

Wynn Resorts Ltd. US:WYNN 67% 33% 0% $133.33 $149.88 12% 10%

Abiomed Inc. US:ABMD 56% 33% 11% $168.08 $216.00 29% -5%

CF Industries Holdings Inc. US:CF 47% 47% 6% $39.48 $47.78 21% -9%

Under Armour Inc. Class A US:UAA 21% 64% 15% $16.50 $17.96 9% -14%

Hologic Inc. US:HOLX 47% 42% 11% $52.70 $56.89 8% 5%

Source: FactSet

It's interesting to see that half of these companies have majority "buy" or equivalent ratings from the same analysts that cut their sales estimates so severely.

Here's a different list showing the 10 S&P 500 companies with the largest decreases in consensus 2020 earnings-per-share estimates since the end of 2019:

Company Ticker Industry Cons. EPS estimate - Feb. 20 Cons. EPS estimate - Dec. 31 Decline in EPS estimate from Dec. 31 to Feb. 20 Change in sales estimate from Dec. 31 to Feb. 20

Hess Corp. US:HES Integrated Oil -$0.26 $0.29 N/A 2.6%

Apache Corp. US:APA Integrated Oil -$0.01 $0.04 N/A 0.0%

Boeing Co. US:BA Aerospace & Defense $5.43 $18.20 -70.1% -20.0%

Under Armour Inc. Class A US:UAA Apparel/Footwear $0.14 $0.48 -69.9% -7.0%

Wynn Resorts Ltd. US:WYNN Casinos/Gaming $2.89 $5.81 -50.3% -10.4%

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February 24, 2020 08:52 ET (13:52 GMT)

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