|Bid||110.00 x 1400|
|Ask||110.75 x 800|
|Day's range||110.08 - 112.62|
|52-week range||96.20 - 113.19|
|PE ratio (TTM)||14.78|
|Earnings date||7 Aug 2018|
|Forward dividend & yield||1.68 (1.60%)|
|1y target est||116.29|
Disney and Comcast are currently locked in a transatlantic bidding war for one of the entertainment industry’s most coveted assets.
While the final chapter of this tale has yet to be told, there are reasons to believe that the House of Mouse will prevail in its bidding war against Comcast.
Netflix Inc.’s stock rebounded from its steepest drop in two years, as investors went past disappointing quarterly earnings to focus on long-term growth. “Long-term fundamental trends remain intact,” RBC Capital Markets’ Mark Mahaney, who recommends buying the shares, wrote in a note to investors. The stock has been volatile in the past when its earnings deviated from forecasts because investors are trading on future potential rather than current earnings.
Netflix says it has room to grow in terms of engagement, which it calculates as median view time. Average view time stats show Netflix still is a small portion of overall video watching time, with Nielsen reporting it only makes up 8 percent. However with more competitive services are entering the field, it may make it hard for Netflix to grow that metric.
While Wall Street remains overwhelmingly positive on Netflix and its role in video streaming globally, the second quarter figures did raise question marks over future growth and six brokerages cut their price targets on the company's shares. "The quarter is a reminder that Netflix's cadence of net adds is not linear, but lumpy in nature," said Justin Patterson, an analyst with Raymond James and Associates in San Francisco, while pointing to the absence of a new hit series as a driver.
Two entertainment giants, Walt Disney (DIS) and Comcast (CMCSA), are fighting over the assets of Twenty-First Century Fox (FOXA). Those assets include a 39% stake in London-based Internet service provider Sky. Fox and Comcast are both looking to acquire a 61% stake in Sky.
An increasing number of companies are planning to launch their streaming service and are fast trying to invade Netflix's space.
The Walt Disney Company (DIS) is set to acquire most of the media and entertainment assets of Twenty-First Century Fox (FOXA). Disney’s half cash and half stock offer values Fox at $71.3 billion, which is better than Comcast’s (CMCSA) all-cash $65 billion proposal made last month just a few weeks before Disney’s bid.
Last month, the board of Twenty-First Century Fox (FOXA) decided to go ahead with the Walt Disney Company’s (DIS) deal to sell most of its media and entertainment assets for $71.3 billion. The move has put rival bidder Comcast (CMCSA) under pressure to either hike its bid or move away from the deal. Disney initially made an all-stock bid of $52.4 billion in December 2017 and then raised its offer to $71.3 billion in cash and stock on June 20.
Netflix missed its subscriber addition projections for the first time in five quarters, leading shares to tumble. The company added about 1 million fewer subscribers than it estimated.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains dives into the current state of sports betting in the U.S. after daily fantasy sports power FanDuel opened its first sportsbook over the weekend. The conversation then shifts to the continued rise of esports and their importance to media companies after Disney's (DIS) big announcement last week.