Equities research analysts predict that Comcast (NASDAQ:CMCSA) will announce $21.98 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have issued estimates for Comcast’s earnings. The lowest sales estimate is $21.63 billion and the highest is $22.51 billion. Comcast reported sales of $21.17 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The company is expected to announce its next quarterly earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Comcast will report full year sales of $89.73 billion for the current financial year, with estimates ranging from $89.06 billion to $90.66 billion. For the next financial year, analysts forecast that the business will post sales of $92.02 billion per share, with estimates ranging from $90.69 billion to $94.02 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Comcast.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Wednesday, April 25th. The cable giant reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. Comcast had a return on equity of 16.14% and a net margin of 26.79%. The company had revenue of $22.79 billion for the quarter, compared to analysts’ expectations of $22.74 billion. During the same period last year, the firm earned $0.53 EPS. Comcast’s revenue for the quarter was up 10.7% compared to the same quarter last year.
A number of brokerages recently commented on CMCSA. Macquarie set a $35.00 target price on Comcast and gave the stock a “hold” rating in a report on Wednesday. KeyCorp assumed coverage on Comcast in a report on Wednesday, May 16th. They issued a “buy” rating and a $38.00 target price on the stock. They noted that the move was a valuation call. Atlantic Securities cut Comcast from an “overweight” rating to a “neutral” rating in a report on Tuesday, May 8th. ValuEngine cut Comcast from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, TD Securities decreased their price target on Comcast from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $46.09.
Comcast stock traded down $0.25 during trading on Monday, reaching $31.63. The company had a trading volume of 24,034,702 shares, compared to its average volume of 27,051,336. Comcast has a 52 week low of $30.43 and a 52 week high of $44.00. The stock has a market cap of $150.99 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.20 and a beta of 1.19. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.98 and a current ratio of 0.98.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Tuesday, July 3rd will be issued a $0.19 dividend. The ex-dividend date is Monday, July 2nd. This represents a $0.76 annualized dividend and a dividend yield of 2.40%. Comcast’s dividend payout ratio (DPR) is 36.89%.
In other news, EVP David N. Watson sold 131,447 shares of Comcast stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $36.79, for a total value of $4,835,935.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Arthur R. Block sold 2,471 shares of Comcast stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $35.60, for a total value of $87,967.60. Following the completion of the sale, the executive vice president now directly owns 62,988 shares in the company, valued at $2,242,372.80. The disclosure for this sale can be found here. Insiders sold 1,210,111 shares of company stock worth $44,299,007 over the last ninety days. Insiders own 1.28% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in Comcast in the fourth quarter worth about $102,000. Wealthcare Advisory Partners LLC purchased a new position in Comcast in the third quarter worth about $104,000. Vigilant Capital Management LLC grew its position in Comcast by 474.2% in the fourth quarter. Vigilant Capital Management LLC now owns 2,584 shares of the cable giant’s stock worth $104,000 after acquiring an additional 2,134 shares in the last quarter. Tower View Investment Management & Research LLC purchased a new position in Comcast in the fourth quarter worth about $109,000. Finally, Global Trust Asset Management LLC purchased a new position in Comcast in the fourth quarter worth about $126,000. 82.08% of the stock is currently owned by hedge funds and other institutional investors.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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