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NFLX

Netflix

$360.15

11.27 (3.23%)

16:10
04/16/19
04/16
16:10
04/16/19
16:10

Netflix now expects 2019 free cash flow deficit to be 'modestly higher' at $3.5B

Netflix said: "Net cash used in operating activities in Q1'19 was -$380M vs. -$237M in the prior year period. Free cash flow totaled -$460M vs. -$287M in the year ago quarter...We now expect 2019 free cash flow deficit to be modestly higher at approximately -$3.5B due to higher cash taxes related to the change in our corporate structure and additional investments in real estate and other infrastructure. We're still expecting free cash flow to improve in 2020 and each year thereafter, driven by our growing member base, revenues, and operating margins. There's no change to our plan to use the high yield market to finance our cash needs. We recently upsized our revolving credit facility from $500M to $750M (which remains undrawn) at the same cost and extended the term from 2022 to 2024."

  • 16

    Apr

NFLX Netflix
$360.15

11.27 (3.23%)

04/16/19
DBAB
04/16/19
UPGRADE
DBAB
Buy
Netflix upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Bryan Kraft upgraded Netflix to Buy from Hold ahead of tonight's Q1 results.
04/16/19
DBAB
04/16/19
UPGRADE
Target $400
DBAB
Buy
Deutsche Bank upgrades Netflix to Buy, sees $400 stock in 12 months
Deutsche Bank analyst Bryan Kraft upgraded Netflix to Buy from Hold and raised his price target for the shares to $400 from $360. The streaming service, which reports Q1 results after the bell tonight, closed yesterday down $2.27 to $348.87. Consensus subscriber expectations for both 2019 and 2020 now seem conservative, Kraft tells investors in a research note. Further, Netflix shares have "de-rated enough," which makes the risk/reward profile attractive, adds the analyst. He sees the company's growth in revenue taking the stock to $400 over the next 12 months as the valuation shifts from 2019 to 2020 estimates. Netflix is winning the battle for talent and "looking more and more like a platform every day, rather than just an application," according to Kraft.
04/16/19
BMOC
04/16/19
NO CHANGE
Target $470
BMOC
Outperform
Netflix price target raised to $470 from $440 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Netflix (NFLX) to $470 and kept his Outperform rating ahead of its Q1 earnings today, saying he expects "strong results" from the company. The analyst bases his price target change on his rolled out estimates for 2021-2028 and believes that Netflix still has "room to grow" internationally - particularly in India and Japan - while improving its per subscriber leverage on content spend and generating "steady growth of its consumer product licensing revenues." Salmon also believes that while Netflix remains the clear leader in global streaming, Amazon (AMZN) and Disney (DIS) can also be "long-term winners" in the sector.
04/16/19
04/16/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Netflix (NFLX) upgraded to Buy from Hold at Deutsche Bank with analyst Bryan Kraft saying consensus subscriber expectations for both 2019 and 2020 now seem conservative. 2. Cenovus Energy (CVE) upgraded to Neutral from Sell at Goldman Sachs with analyst Neil Mehta citing improvements to the company's leverage outlook and a more constructive commodity price environment, particularly for Canadian heavy crude. 3. Cummins (CMI) upgraded to Buy from Neutral at Citi with analyst Timothy Thein saying he sees upside to 2019 estimates and thinks the company's out-year cash flows "stay higher for longer based on end market diversity and increasing contribution from the aftermarket." 4. Western Digital (WDC) upgraded to Buy from Hold at Deutsche Bank with analyst Sidney Ho starting to see favorable data points in both hard disk drive and NAND that will support a "solid" second half of the year recovery for Western Digital's earnings. 5. e.l.f. Beauty (ELF) upgraded to Buy from Neutral at DA Davidson with analyst Linda Bolton Weiser citing the findings of her proprietary store checks suggesting that the company products have seen a 17% increase in shelf space at Target (TGT), overtaking Coty's (COTY) Covergirl brand, while its Q1 sales "inflected from down high-single digits" in Q4 to low-single digits. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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XLNX

Xilinx

$139.79

2.66 (1.94%)

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CIGI

Colliers International

$69.14

-0.39 (-0.56%)

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ABBV

AbbVie

$78.71

0.06 (0.08%)

07:43
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HAS

Hasbro

$103.18

2.84 (2.83%)

07:42
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Hasbro rating change  »

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WAB

Wabtec

$76.57

-0.19 (-0.25%)

, GE

General Electric

$9.32

-0.025 (-0.27%)

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Wabtec CEO Ray Betler to retire, Rafael Santana to succeed »

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WAB

Wabtec

$76.57

-0.19 (-0.25%)

GE

General Electric

$9.32

-0.025 (-0.27%)

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ABBV

AbbVie

$78.71

0.06 (0.08%)

07:42
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ABBV

AbbVie

$78.71

0.06 (0.08%)

07:42
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04/25
07:42
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Earnings
AbbVie reports Q1 adjusted EPS $2.14, consensus $2.06 »

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HBAN

Huntington Bancshares

$13.75

-0.04 (-0.29%)

07:40
04/25/19
04/25
07:40
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Earnings
Huntington Bancshares sees FY19 revenue up 4%-7%, consensus $4.76B »

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    Aug

REPL

Replimune Group

$15.32

1 (6.98%)

07:40
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04/25
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Initiation
Replimune Group initiated  »

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ALKS

Alkermes

$34.80

0.6 (1.75%)

07:40
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04/25
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  • 25

    Apr

FCN

FTI Consulting

$78.95

-0.04 (-0.05%)

07:40
04/25/19
04/25
07:40
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07:40
Earnings
FTI Consulting backs FY19 adj. EPS view $3.50-$4.00, consensus $3.71 »

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  • 25

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RRC

Range Resources

$9.76

0.08 (0.83%)

07:39
04/25/19
04/25
07:39
04/25/19
07:39
Downgrade
Range Resources rating change  »

Range Resources…

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  • 15

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SWK

Stanley Black & Decker

$145.79

-1.58 (-1.07%)

07:38
04/25/19
04/25
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07:38
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Stanley Black & Decker analyst commentary  »

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FCN

FTI Consulting

$78.95

-0.04 (-0.05%)

07:37
04/25/19
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Earnings
FTI Consulting reports Q1 adj. EPS $1.63, consensus 99c »

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NCI

Navigant Consulting

$21.00

0.38 (1.84%)

07:37
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07:37
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Earnings
Navigant Consulting backs FY19 adjusted EPS view 85c-$1.00, consensus 89c »

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SAH

Sonic Automotive

$15.84

0.45 (2.92%)

07:36
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Earnings
Sonic Automotive reports Q1 adjusted EPS 39c, consensus 23c »

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  • 25

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

07:36
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BWB

Bridgewater Bancshares

$10.53

-0.07 (-0.66%)

07:36
04/25/19
04/25
07:36
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07:36
Earnings
Bridgewater Bancshares reports Q1 EPS 23c, consensus 24c »

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FB

Facebook

$182.64

-1.13 (-0.61%)

07:36
04/25/19
04/25
07:36
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07:36
Recommendations
Facebook analyst commentary at Morgan Stanley »

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  • 28

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NCI

Navigant Consulting

$21.00

0.38 (1.84%)

07:35
04/25/19
04/25
07:35
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Hot Stocks
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NOW

ServiceNow

$242.41

-1.085 (-0.45%)

07:35
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  • 05

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WAB

Wabtec

$76.57

-0.19 (-0.25%)

07:35
04/25/19
04/25
07:35
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Earnings
Wabtec backs FY19 adj. EPS view $4.00-$4.20, consensus $4.15 »

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FB

Facebook

$182.64

-1.13 (-0.61%)

, CVE

Cenovus Energy

$10.19

-0.25 (-2.39%)

07:35
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Options
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FB

Facebook

$182.64

-1.13 (-0.61%)

CVE

Cenovus Energy

$10.19

-0.25 (-2.39%)

AMRN

Amarin

$18.47

0.08 (0.44%)

ORCL

Oracle

$55.17

0.23 (0.42%)

OXY

Occidental Petroleum

$62.00

-0.35 (-0.56%)

COP

ConocoPhillips

$64.71

-1.74 (-2.62%)

JNPR

Juniper

$28.73

0.355 (1.25%)

IVZ

Invesco

$21.53

-0.09 (-0.42%)

CSIQ

Canadian Solar

$20.17

-0.085 (-0.42%)

CNSL

Consolidated Communications

$8.89

-0.03 (-0.34%)

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NCI

Navigant Consulting

$21.00

0.38 (1.84%)

07:34
04/25/19
04/25
07:34
04/25/19
07:34
Earnings
Navigant Consulting reports Q1 adjusted EPS 18c, consensus 8c »

Reports Q1 revenue…

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