Comcast Corporation (CMCSA) Expected to Announce Quarterly Sales of $21.16 Billion
Analysts expect Comcast Corporation (NASDAQ:CMCSA) to announce $21.16 billion in sales for the current quarter, Zacks reports. Fourteen analysts have made 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 during the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The business is expected to report its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Comcast Corporation will report full year sales of $21.16 billion for the current fiscal year, with estimates ranging from $84.28 billion to $85.41 billion. For the next year, analysts forecast that the company will post sales of $90.10 billion per share, with estimates ranging from $88.17 billion to $91.67 billion. Zacks’ 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 issued its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The company had revenue of $21.17 billion during the quarter, compared to analyst estimates of $20.85 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. Comcast Corporation’s revenue was up 9.8% compared to the same quarter last year.
Several research analysts recently issued reports on the stock. Moffett Nathanson cut shares of Comcast Corporation from a “buy” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Tuesday, June 20th. ValuEngine lowered shares of Comcast Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. UBS AG restated an “overweight” rating on shares of Comcast Corporation in a research report on Thursday, August 24th. Guggenheim upgraded shares of Comcast Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $42.00 to $46.00 in a research report on Thursday, August 3rd. Finally, BidaskClub lowered shares of Comcast Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $45.69.
Comcast Corporation (NASDAQ:CMCSA) opened at 40.26 on Tuesday. The stock has a 50 day moving average price of $39.96 and a 200-day moving average price of $39.02. The company has a market cap of $189.76 billion, a price-to-earnings ratio of 20.28 and a beta of 1.01. Comcast Corporation has a 1-year low of $30.02 and a 1-year high of $42.18.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.56%. The ex-dividend date is Tuesday, October 3rd. Comcast Corporation’s dividend payout ratio (DPR) is 31.74%.
In related news, SVP Daniel C. Murdock sold 3,659 shares of Comcast Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $39.61, for a total transaction of $144,932.99. Following the sale, the senior vice president now owns 725 shares of the company’s stock, valued at approximately $28,717.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.28% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC raised its position in Comcast Corporation by 100.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock valued at $100,000 after buying an additional 1,340 shares during the period. OLD Second National Bank of Aurora raised its position in Comcast Corporation by 56.5% in the first quarter. OLD Second National Bank of Aurora now owns 2,696 shares of the cable giant’s stock valued at $101,000 after buying an additional 973 shares during the period. Zions Bancorporation raised its position in Comcast Corporation by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock valued at $106,000 after buying an additional 410 shares during the period. Clear Perspective Advisors LLC raised its position in Comcast Corporation by 100.1% in the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock valued at $106,000 after buying an additional 1,362 shares during the period. Finally, Adirondack Trust Co. raised its position in Comcast Corporation by 100.0% in the first quarter. Adirondack Trust Co. now owns 2,900 shares of the cable giant’s stock valued at $109,000 after buying an additional 1,450 shares during the period. 82.02% of the stock is owned by institutional investors.
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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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