Analysts Expect Comcast Corporation (CMCSA) Will Announce Quarterly Sales of $21.15 Billion
Wall Street brokerages expect Comcast Corporation (NASDAQ:CMCSA) to report sales of $21.15 billion for the current fiscal quarter, according to Zacks Investment Research. 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 reported sales of $21.32 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The firm is scheduled to report its next quarterly earnings report before the market opens on Wednesday, October 25th.
According to Zacks, analysts expect that Comcast Corporation will report full-year sales of $21.15 billion for the current fiscal year, with estimates ranging from $84.28 billion to $85.41 billion. For the next financial year, analysts forecast that the business will post sales of $89.98 billion per share, with estimates ranging from $88.02 billion to $91.67 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Comcast Corporation.
Comcast Corporation (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The firm had revenue of $21.17 billion during the quarter, compared to analysts’ expectations of $20.85 billion. During the same period in the previous year, the business posted $0.83 EPS. The business’s revenue was up 9.8% compared to the same quarter last year.
Several equities research analysts have commented on CMCSA shares. ValuEngine upgraded shares of Comcast Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. TD Securities started coverage on Comcast Corporation in a research note on Thursday, July 13th. They set a “buy” rating and a $51.00 price target for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 price target on shares of Comcast Corporation in a research note on Sunday, July 9th. Jefferies Group LLC reissued a “buy” rating and issued a $47.00 target price on shares of Comcast Corporation in a research note on Friday, July 7th. Finally, Instinet reissued a “buy” rating and issued a $46.00 target price on shares of Comcast Corporation in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $45.83.
In other Comcast Corporation news, SVP Daniel C. Murdock sold 3,659 shares of the company’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 sale, the senior vice president now owns 725 shares in the company, valued at $28,717.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.28% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in Comcast Corporation by 97.6% during the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock worth $7,499,933,000 after buying an additional 98,570,377 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Comcast Corporation by 97.6% during the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock worth $3,663,324,000 after purchasing an additional 48,147,456 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Comcast Corporation by 95.7% during the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock worth $2,244,768,000 after purchasing an additional 29,199,805 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Comcast Corporation by 103.1% during the first quarter. Bank of New York Mellon Corp now owns 56,323,747 shares of the cable giant’s stock worth $2,117,212,000 after purchasing an additional 28,597,277 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Comcast Corporation by 1,581.1% during the second quarter. Janus Henderson Group PLC now owns 28,199,798 shares of the cable giant’s stock worth $1,097,544,000 after purchasing an additional 26,522,368 shares during the last quarter. 82.02% of the stock is currently owned by institutional investors.
Comcast Corporation (CMCSA) opened at 36.93 on Friday. The firm has a market capitalization of $174.06 billion, a PE ratio of 18.60 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 has a 50 day moving average of $40.00 and a 200 day moving average of $39.17.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.71%. Comcast Corporation’s dividend payout ratio (DPR) is 31.74%.
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Comcast Corporation Company Profile
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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