Seaport Res Ptn Reduces Earnings Estimates for Comcast

Comcast Co. (NASDAQ:CMCSA) – Analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for shares of Comcast in a research report issued to clients and investors on Thursday, December 19th. Seaport Res Ptn analyst D. Joyce now expects that the cable giant will post earnings per share of $4.25 for the year, down from their prior estimate of $4.28. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Comcast’s current full-year earnings is $4.26 per share. Seaport Res Ptn also issued estimates for Comcast’s Q4 2024 earnings at $0.88 EPS, Q3 2025 earnings at $1.27 EPS and FY2026 earnings at $5.18 EPS.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. Comcast’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 EPS.

A number of other brokerages have also issued reports on CMCSA. Wells Fargo & Company increased their price objective on shares of Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley downgraded Comcast from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $48.00 to $45.00 in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, TD Cowen decreased their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.06.

Comcast Stock Performance

NASDAQ:CMCSA opened at $38.40 on Monday. The stock has a 50-day moving average price of $41.95 and a 200 day moving average price of $40.30. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast has a 12-month low of $36.43 and a 12-month high of $47.11. The stock has a market capitalization of $146.94 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.50 and a beta of 0.99.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is presently 33.33%.

Insider Buying and Selling

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC boosted its position in Comcast by 904.0% during the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock valued at $10,632,000 after acquiring an additional 229,192 shares in the last quarter. Tidal Investments LLC boosted its position in Comcast by 15.2% during the third quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock valued at $7,161,000 after purchasing an additional 22,684 shares in the last quarter. Parnassus Investments LLC grew its stake in Comcast by 3.7% in the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in Comcast by 0.7% in the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock worth $92,331,000 after purchasing an additional 15,807 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of Comcast by 3,816.0% during the second quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock valued at $21,866,000 after buying an additional 544,123 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.