Comcast Corporation (CMCSA) Expected to Post Quarterly Sales of $21.19 Billion
Equities research analysts expect Comcast Corporation (NASDAQ:CMCSA) to report sales of $21.19 billion for the current quarter, Zacks reports. Fifteen analysts have issued estimates for Comcast Corporation’s earnings, with the highest sales estimate coming in at $22.38 billion and the lowest estimate coming in at $20.80 billion. Comcast Corporation posted sales of $21.32 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 0.6%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Comcast Corporation will report full year sales of $21.19 billion for the current financial year, with estimates ranging from $84.28 billion to $85.41 billion. For the next year, analysts anticipate that the business will post sales of $90.13 billion per share, with estimates ranging from $88.17 billion to $91.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Comcast Corporation.
Comcast Corporation (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $21.17 billion for the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS.
Several equities research analysts have recently issued reports on the company. Argus lifted their target price on Comcast Corporation from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Guggenheim raised Comcast Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $46.00 in a report on Thursday, August 3rd. Barclays PLC set a $44.00 target price on Comcast Corporation and gave the stock a “buy” rating in a report on Friday, July 14th. ValuEngine raised Comcast Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, TD Securities assumed coverage on Comcast Corporation in a report on Thursday, July 13th. They issued a “buy” rating and a $51.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Comcast Corporation presently has an average rating of “Buy” and a consensus target price of $45.69.
In related news, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $39.61, for a total value of $144,932.99. Following the completion of the sale, the senior vice president now owns 725 shares in the company, valued at $28,717.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth J. Bacon sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the sale, the director now owns 26,812 shares of the company’s stock, valued at approximately $1,085,886. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Boston Partners raised its stake in Comcast Corporation by 140.7% in the first quarter. Boston Partners now owns 16,659,589 shares of the cable giant’s stock worth $626,233,000 after buying an additional 9,739,468 shares in the last quarter. Haverford Trust Co. raised its stake in Comcast Corporation by 117.5% in the first quarter. Haverford Trust Co. now owns 3,301,780 shares of the cable giant’s stock worth $124,114,000 after buying an additional 1,783,436 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in Comcast Corporation by 77.1% in the first quarter. First Citizens Bank & Trust Co. now owns 170,680 shares of the cable giant’s stock worth $6,416,000 after buying an additional 74,290 shares in the last quarter. Whittier Trust Co. raised its stake in Comcast Corporation by 101.7% in the first quarter. Whittier Trust Co. now owns 288,578 shares of the cable giant’s stock worth $10,847,000 after buying an additional 145,515 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in Comcast Corporation by 111.0% in the first quarter. Gabelli Funds LLC now owns 1,810,200 shares of the cable giant’s stock worth $68,045,000 after buying an additional 952,100 shares in the last quarter. Hedge funds and other institutional investors own 82.32% of the company’s stock.
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Shares of Comcast Corporation (NASDAQ CMCSA) traded up 0.93% during trading on Thursday, reaching $41.11. The company’s stock had a trading volume of 16,735,288 shares. The company has a 50 day moving average of $39.47 and a 200 day moving average of $38.77. The company has a market cap of $193.77 billion, a PE ratio of 20.71 and a beta of 1.01. Comcast Corporation has a 12-month low of $30.02 and a 12-month high of $42.18.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a dividend yield of 1.53%. Comcast Corporation’s dividend payout ratio (DPR) is presently 31.74%.
About Comcast Corporation
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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