Wall Street brokerages expect Comcast Co. (NASDAQ:CMCSA) to post sales of $22.60 billion for the current fiscal quarter, Zacks reports. Fourteen analysts have provided estimates for Comcast’s earnings. The lowest sales estimate is $21.58 billion and the highest is $23.24 billion. Comcast posted sales of $20.46 billion in the same quarter last year, which would indicate a positive year over year growth rate of 10.5%. The firm is expected to announce its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Comcast will report full year sales of $22.60 billion for the current financial year, with estimates ranging from $88.27 billion to $90.29 billion. For the next fiscal year, analysts forecast that the company will post sales of $91.75 billion per share, with estimates ranging from $90.67 billion to $93.59 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Comcast.
Comcast (NASDAQ:CMCSA) last released its earnings results on Wednesday, January 24th. The cable giant reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $21.92 billion during the quarter, compared to the consensus estimate of $21.83 billion. Comcast had a return on equity of 16.47% and a net margin of 26.87%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 earnings per share.
In other news, Chairman Brian L. Roberts sold 583,835 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total value of $22,576,899.45. Following the transaction, the chairman now directly owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David N. Watson sold 131,447 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $36.79, for a total transaction of $4,835,935.13. The disclosure for this sale can be found here. Insiders sold 915,605 shares of company stock worth $35,906,374 over the last ninety days. 1.28% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in Comcast during the fourth quarter valued at about $102,000. MPS Loria Financial Planners LLC bought a new stake in Comcast during the second quarter valued at about $107,000. Vigilant Capital Management LLC boosted its holdings in Comcast by 474.2% during the fourth quarter. Vigilant Capital Management LLC now owns 2,584 shares of the cable giant’s stock valued at $104,000 after acquiring an additional 2,134 shares during the period. Wealthcare Advisory Partners LLC bought a new stake in Comcast during the third quarter valued at about $104,000. Finally, Clear Perspective Advisors LLC boosted its holdings in Comcast by 100.1% during the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock valued at $106,000 after acquiring an additional 1,362 shares during the period. Hedge funds and other institutional investors own 83.59% of the company’s stock.
Comcast (NASDAQ CMCSA) traded down $0.33 on Wednesday, reaching $36.10. The company’s stock had a trading volume of 4,330,000 shares, compared to its average volume of 28,740,000. The firm has a market capitalization of $167,640.00, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.74 and a quick ratio of 0.74. Comcast has a 12-month low of $34.78 and a 12-month high of $44.00.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Wednesday, April 4th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, April 3rd. This is an increase from Comcast’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.11%. Comcast’s dividend payout ratio is 30.00%.
TRADEMARK VIOLATION NOTICE: “Comcast Co. (CMCSA) Expected to Announce Quarterly Sales of $22.60 Billion” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2018/03/14/comcast-co-cmcsa-expected-to-announce-quarterly-sales-of-22-60-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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.