Zacks: Brokerages Anticipate Comcast Co. (NASDAQ:CMCSA) to Announce $0.64 EPS


Share on StockTwits

Wall Street brokerages predict that Comcast Co. (NASDAQ:CMCSA) will post earnings of $0.64 per share for the current fiscal quarter, according to Zacks. Fourteen analysts have provided estimates for Comcast’s earnings, with estimates ranging from $0.51 to $0.75. Comcast reported earnings of $0.69 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 7.2%. The firm is expected to issue its next earnings results on Thursday, July 29th.

According to Zacks, analysts expect that Comcast will report full year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.48 to $3.05. For the next fiscal year, analysts expect that the firm will post earnings of $3.66 per share, with EPS estimates ranging from $3.10 to $4.23. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Comcast.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 29th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.17. Comcast had a return on equity of 15.45% and a net margin of 9.90%. The firm had revenue of $27.21 billion for the quarter, compared to the consensus estimate of $26.83 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis.

CMCSA has been the topic of several recent research reports. Raymond James lifted their price target on Comcast from $61.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company assumed coverage on Comcast in a research report on Monday, March 22nd. They issued an “underweight” rating and a $48.00 target price on the stock. Truist lifted their target price on Comcast from $50.00 to $60.00 in a research report on Friday, January 29th. Evercore ISI lifted their target price on Comcast from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Comcast from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $61.75.

In related news, CEO Brian L. Roberts sold 709,673 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $55.20, for a total value of $39,173,949.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.14% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. United Bank lifted its stake in Comcast by 6.0% during the third quarter. United Bank now owns 34,625 shares of the cable giant’s stock worth $1,602,000 after purchasing an additional 1,957 shares during the last quarter. Westover Capital Advisors LLC lifted its stake in Comcast by 1.0% during the third quarter. Westover Capital Advisors LLC now owns 93,202 shares of the cable giant’s stock worth $4,312,000 after purchasing an additional 941 shares during the last quarter. IHT Wealth Management LLC lifted its stake in Comcast by 14.3% during the third quarter. IHT Wealth Management LLC now owns 24,005 shares of the cable giant’s stock worth $1,110,000 after purchasing an additional 2,996 shares during the last quarter. Chiron Capital Management LLC bought a new stake in Comcast during the third quarter worth $81,000. Finally, Jeppson Wealth Management LLC bought a new stake in Comcast during the third quarter worth $211,000. Institutional investors and hedge funds own 82.56% of the company’s stock.

Shares of CMCSA traded up $0.06 during midday trading on Tuesday, hitting $56.63. The stock had a trading volume of 25,371,541 shares, compared to its average volume of 18,233,600. The company has a 50 day simple moving average of $55.07 and a two-hundred day simple moving average of $51.36. Comcast has a twelve month low of $34.17 and a twelve month high of $58.58. The firm has a market cap of $259.40 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.93 and a quick ratio of 0.93.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, wireless, and security and automation services to residential and business customers under the Xfinity brand, as well as sells advertising.

Recommended Story: What are gap-down stocks?

Get a free copy of the Zacks research report on Comcast (CMCSA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Comcast (NASDAQ:CMCSA)

Receive News & Ratings for Comcast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast and related companies with MarketBeat.com's FREE daily email newsletter.