$21.15 Billion in Sales Expected for Comcast Corporation (CMCSA) This Quarter
Wall Street brokerages forecast that Comcast Corporation (NASDAQ:CMCSA) will report sales of $21.15 billion for the current fiscal quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Comcast Corporation’s earnings, with the lowest sales estimate coming in at $20.76 billion and the highest estimate coming in at $22.38 billion. Comcast Corporation reported sales of $21.32 billion in the same quarter last year, which would suggest a negative year over year growth rate of 0.8%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, October 26th.
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 fiscal year, analysts expect that the firm will report sales of $89.87 billion per share, with estimates ranging from $87.69 billion to $91.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Comcast Corporation.
Comcast Corporation (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $21.17 billion during the quarter, compared to analyst estimates of $20.85 billion. During the same quarter last year, the business earned $0.83 earnings per share. Comcast Corporation’s quarterly revenue was up 9.8% compared to the same quarter last year.
CMCSA has been the topic of several recent research reports. KeyCorp reaffirmed a “neutral” rating on shares of Comcast Corporation in a research note on Sunday, September 17th. UBS AG reaffirmed an “overweight” rating on shares of Comcast Corporation in a research note on Thursday, August 24th. Argus lifted their target price on shares of Comcast Corporation from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Barclays PLC set a $44.00 target price on shares of Comcast Corporation and gave the stock a “buy” rating in a research note on Friday, July 14th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $43.00 target price on shares of Comcast Corporation in a research note on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Comcast Corporation has an average rating of “Buy” and a consensus target price of $45.83.
In other Comcast Corporation news, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the sale, the executive vice president now directly owns 68,478 shares in the company, valued at $2,626,816.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was 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 in the company, valued at $28,717.25. The disclosure for this sale can be found here. Insiders sold 9,982 shares of company stock worth $385,050 in the last ninety days. 1.28% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of CMCSA. State Street Corp increased its stake 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 purchasing an additional 98,570,377 shares during the period. Clearbridge Investments LLC increased 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 period. Ameriprise Financial Inc. increased 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 period. Bank of New York Mellon Corp increased 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 period. Finally, Janus Henderson Group PLC increased 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 period. Institutional investors own 81.93% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “$21.15 Billion in Sales Expected for Comcast Corporation (CMCSA) This Quarter” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/05/21-15-billion-in-sales-expected-for-comcast-corporation-cmcsa-this-quarter.html.
Comcast Corporation (CMCSA) opened at 38.59 on Thursday. Comcast Corporation has a 52-week low of $30.02 and a 52-week high of $42.18. The firm’s 50-day moving average is $39.08 and its 200 day moving average is $39.22. The company has a market cap of $181.89 billion, a price-to-earnings ratio of 19.44 and a beta of 0.98.
The business 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 $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 yield of 1.63%. Comcast Corporation’s payout ratio is currently 31.74%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Comcast Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast Corporation and related companies with MarketBeat.com's FREE daily email newsletter.