Jefferies Group Comments on Comcast Corporation’s Q3 2017 Earnings (CMCSA)
Comcast Corporation (NASDAQ:CMCSA) – Investment analysts at Jefferies Group lifted their Q3 2017 earnings per share (EPS) estimates for Comcast Corporation in a research report issued on Thursday. Jefferies Group analyst M. Mccormack now anticipates that the cable giant will post earnings per share of $0.51 for the quarter, up from their prior forecast of $0.50. Jefferies Group currently has a “Buy” rating and a $47.00 price target on the stock. Jefferies Group also issued estimates for Comcast Corporation’s Q4 2017 earnings at $0.52 EPS and FY2017 earnings at $2.08 EPS.
CMCSA has been the subject of several other reports. KeyCorp reaffirmed a “neutral” rating on shares of Comcast Corporation in a report on Sunday, September 17th. UBS AG reiterated an “overweight” rating on shares of Comcast Corporation in a research note on Thursday, August 24th. Argus lifted their price target 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 price target on shares of Comcast Corporation and gave the stock a “buy” rating in a research note on Friday, July 14th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $43.00 price target 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 issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.83.
Several hedge funds have recently added to or reduced their stakes in CMCSA. State Street Corp lifted its holdings in shares of Comcast Corporation by 97.6% in 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 holdings in shares of Comcast Corporation by 97.6% in the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock worth $3,663,324,000 after buying an additional 48,147,456 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Comcast Corporation by 95.7% in the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock worth $2,244,768,000 after buying an additional 29,199,805 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Comcast Corporation by 103.1% in 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 buying an additional 28,597,277 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Comcast Corporation by 1,581.1% in 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 buying an additional 26,522,368 shares in the last quarter. 81.93% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $39.61, for a total value of $144,932.99. Following the transaction, the senior vice president now owns 725 shares of the company’s stock, valued at $28,717.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the transaction, the executive vice president now directly owns 68,478 shares in the company, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,982 shares of company stock valued at $385,050. Company insiders own 1.28% of the company’s stock.
The company also recently declared 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 is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.75%. 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.
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