In the latest trading session, Netflix (NFLX) closed at $329.54, marking a -0.94% move from the previous day. This change lagged the S&P 500's 0.43% loss on the day. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, added 0.26%.Coming into today, shares of the internet video service had lost 8.95% in the past month. In that same time, the Consumer Discretionary sector lost 5.92%, while the S&P 500 lost 4.68%.NFLX will be looking to display strength as it nears its next earnings release, which is expected to be January 28, 2019. On that day, NFLX is projected to report earnings of $0.24 per share, which would represent a year-over-year decline of 41.46%. Meanwhile, our latest consensus estimate is calling for revenue of $4.20 billion, up 27.97% from the prior-year quarter.For the full year, our Zacks Consensus Estimates are projecting earnings of $2.61 per share and revenue of $15.84 billion, which would represent changes of +108.8% and +35.49%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for NFLX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.61% lower. NFLX currently has a Zacks Rank of #3 (Hold).Investors should also note NFLX's current valuation metrics, including its Forward P/E ratio of 127.52. Its industry sports an average Forward P/E of 13.9, so we one might conclude that NFLX is trading at a premium comparatively.Investors should also note that NFLX has a PEG ratio of 4.25 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NFLX's industry had an average PEG ratio of 0.92 as of yesterday's close.The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 108, putting it in the top 42% 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.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Netflix, Inc. (NFLX): Free Stock Analysis Report To read this article on Zacks.com click here.