Zacks: Analysts Anticipate Comcast Co. (CMCSA) Will Announce Quarterly Sales of $22.55 Billion

Wall Street analysts forecast that Comcast Co. (NASDAQ:CMCSA) will announce sales of $22.55 billion for the current quarter, Zacks reports. Thirteen analysts have issued estimates for Comcast’s earnings, with the highest sales estimate coming in at $23.01 billion and the lowest estimate coming in at $21.58 billion. Comcast reported sales of $20.46 billion in the same quarter last year, which indicates a positive year over year growth rate of 10.2%. The company is expected to issue its next earnings results on Thursday, April 26th.

On average, analysts expect that Comcast will report full-year sales of $22.55 billion for the current fiscal year, with estimates ranging from $88.27 billion to $91.09 billion. For the next fiscal year, analysts anticipate that the business will post sales of $91.71 billion per share, with estimates ranging from $90.67 billion to $93.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Comcast.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Wednesday, January 24th. The cable giant reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $21.92 billion for the quarter, compared to analysts’ expectations of $21.83 billion. Comcast had a net margin of 26.87% and a return on equity of 16.47%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS.

Several research analysts have recently commented on CMCSA shares. Guggenheim raised their target price on shares of Comcast from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, January 26th. SunTrust Banks raised their target price on shares of Comcast to $50.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. TD Securities raised their target price on shares of Comcast from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Bank of America raised their target price on shares of Comcast from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Co raised their target price on shares of Comcast from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $47.74.

Comcast (CMCSA) opened at $40.15 on Thursday. The firm has a market cap of $184,247.58, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.86. Comcast has a fifty-two week low of $34.78 and a fifty-two week high of $44.00.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Wednesday, April 4th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.89%. This is a positive change from Comcast’s previous quarterly dividend of $0.16. Comcast’s dividend payout ratio (DPR) is currently 13.21%.

In other Comcast news, EVP Arthur R. Block sold 3,937 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total value of $159,920.94. Following the sale, the executive vice president now owns 65,946 shares in the company, valued at $2,678,726.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the completion of the sale, the chairman now owns 1,711,798 shares in the company, valued at approximately $66,195,228.66. The disclosure for this sale can be found here. Insiders sold 784,158 shares of company stock worth $31,070,439 in the last 90 days. Company insiders own 1.28% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Comcast by 2.8% during the second quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock worth $12,331,646,000 after purchasing an additional 8,677,771 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Comcast by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock worth $2,218,587,000 after purchasing an additional 680,012 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Comcast by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 53,054,928 shares of the cable giant’s stock worth $2,041,312,000 after purchasing an additional 432,491 shares during the period. Capital International Investors lifted its holdings in shares of Comcast by 23.3% during the third quarter. Capital International Investors now owns 34,256,110 shares of the cable giant’s stock worth $1,318,175,000 after purchasing an additional 6,467,802 shares during the period. Finally, Veritas Asset Management LLP lifted its holdings in shares of Comcast by 3.7% during the third quarter. Veritas Asset Management LLP now owns 33,195,373 shares of the cable giant’s stock worth $1,277,358,000 after purchasing an additional 1,189,200 shares during the period. Institutional investors own 82.15% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/08/zacks-analysts-anticipate-comcast-co-cmcsa-will-announce-quarterly-sales-of-22-55-billion.html.

Comcast 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.

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.

Leave a Reply