August 9, 2022

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.38 Billion in Sales Expected for Comcast Co. (NASDAQ:CMCSA) This Quarter

$30.38 Billion in Sales Expected for Comcast Co. (NASDAQ:CMCSA) This Quarter

Wall Street brokerages forecast that Comcast Co. (NASDAQ:CMCSA) will post sales of $30.38 billion for the current quarter, according to Zacks Investment Research. Fourteen analysts have issued estimates for Comcast’s earnings. The highest sales estimate is $31.89 billion and the lowest is $28.69 billion. Comcast posted sales of $27.21 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.7%. The firm is scheduled to announce its next earnings results on Thursday, May 5th.

According to Zacks, analysts expect that Comcast will report full year sales of $122.25 billion for the current financial year, with estimates ranging from $117.52 billion to $124.36 billion. For the next fiscal year, analysts anticipate that the company will post sales of $124.61 billion, with estimates ranging from $118.07 billion to $131.04 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Comcast.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 27th. The cable giant reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. Comcast had a net margin of 12.17% and a return on equity of 15.61%. The company had revenue of $30.34 billion during the quarter, compared to analysts’ expectations of $29.63 billion. During the same period in the previous year, the company earned $0.56 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis.

A number of brokerages have recently issued reports on CMCSA. Loop Capital cut their target price on shares of Comcast from $71.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, November 22nd. Royal Bank of Canada upgraded Comcast from a “sector perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Monday, January 24th. Barclays dropped their target price on Comcast from $60.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, January 28th. Macquarie lowered shares of Comcast from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $65.00 to $52.00 in a research note on Tuesday, December 14th. Finally, TD Securities upped their target price on Comcast from $69.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $63.28.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Field & Main Bank raised its holdings in Comcast by 200.0% in the third quarter. Field & Main Bank now owns 450 shares of the cable giant’s stock worth $25,000 after purchasing an additional 300 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Comcast during the third quarter worth about $26,000. AHL Investment Management Inc. acquired a new position in Comcast in the fourth quarter valued at about $30,000. Sandy Cove Advisors LLC bought a new position in shares of Comcast during the 4th quarter valued at about $31,000. Finally, Core Alternative Capital increased its stake in Comcast by 86.9% during the 4th quarter. Core Alternative Capital now owns 684 shares of the cable giant’s stock worth $34,000 after purchasing an additional 318 shares in the last quarter. 82.61% of the stock is currently owned by institutional investors.

Shares of NASDAQ CMCSA opened at $48.05 on Wednesday. The stock has a market cap of $217.82 billion, a P/E ratio of 15.86, a PEG ratio of 0.99 and a beta of 0.91. Comcast has a 12-month low of $45.47 and a 12-month high of $61.80. The business’s fifty day simple moving average is $49.61 and its 200-day simple moving average is $53.57. The company has a current ratio of 0.85, a quick ratio of 1.03 and a debt-to-equity ratio of 1.00.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 27th. Investors of record on Wednesday, April 6th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, April 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Comcast’s previous quarterly dividend of $0.25. Comcast’s dividend payout ratio (DPR) is currently 33.00%.

Comcast Company Profile

Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.

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Earnings History and Estimates for Comcast (NASDAQ:CMCSA)

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