In the latest trading session, Netflix (NFLX) closed at $395.23, marking a +0.57% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.61%. Elsewhere, the Dow lost 0.41%, while the tech-heavy Nasdaq added 10.45%.

Prior to today's trading, shares of the internet video service had gained 23.75% over the past month. This has outpaced the Consumer Discretionary sector's loss of 5.43% and the S&P 500's gain of 1.05% in that time.

Investors will be hoping for strength from Netflix as it approaches its next earnings release. In that report, analysts expect Netflix to post earnings of $2.80 per share. This would mark a year-over-year decline of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $8.25 billion, up 3.47% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $11.19 per share and revenue of $33.77 billion, which would represent changes of +12.46% and +6.8%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Netflix. These revisions help to show the ever-changing nature 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Netflix is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Netflix is currently trading at a Forward P/E ratio of 35.12. This valuation marks a premium compared to its industry's average Forward P/E of 11.94.

It is also worth noting that NFLX currently has a PEG ratio of 1.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Broadcast Radio and Television stocks are, on average, holding a PEG ratio of 1.44 based on yesterday's closing prices.

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Netflix, Inc. (NFLX) : Free Stock Analysis Report

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