Seaport Res Ptn Comments on Comcast Co.’s FY2024 Earnings (NASDAQ:CMCSA)

Comcast Co. (NASDAQ:CMCSA) – Stock analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for shares of Comcast in a research note issued on Friday, April 26th. Seaport Res Ptn analyst D. Joyce now forecasts that the cable giant will earn $4.28 per share for the year, up from their prior estimate of $4.20. The consensus estimate for Comcast’s current full-year earnings is $4.21 per share. Seaport Res Ptn also issued estimates for Comcast’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.25 EPS, Q4 2025 earnings at $1.04 EPS and FY2025 earnings at $4.58 EPS.

Several other analysts have also weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 10th. Citigroup raised their price objective on Comcast from $51.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Oppenheimer reissued an “outperform” rating and set a $55.00 price target on shares of Comcast in a research note on Wednesday, April 3rd. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Friday. Finally, Scotiabank cut their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus price target of $49.83.

Comcast Stock Up 1.8 %

Shares of NASDAQ CMCSA opened at $38.57 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.60 and a current ratio of 0.59. Comcast has a 52 week low of $36.43 and a 52 week high of $47.46. The stock has a market capitalization of $153.19 billion, a P/E ratio of 10.20, a PEG ratio of 0.94 and a beta of 0.98. The stock’s fifty day moving average is $41.58 and its 200 day moving average is $42.55.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter last year, the business earned $0.92 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Greenwich Wealth Management LLC increased its stake in Comcast by 2.6% in the 4th quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after acquiring an additional 219 shares during the last quarter. Legend Financial Advisors Inc. increased its position in shares of Comcast by 17.5% during the 4th quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after purchasing an additional 220 shares during the last quarter. Beaumont Asset Management L.L.C. increased its position in shares of Comcast by 1.6% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after purchasing an additional 226 shares during the last quarter. Keystone Financial Services increased its position in shares of Comcast by 1.1% during the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after purchasing an additional 229 shares during the last quarter. Finally, Ironwood Financial llc increased its position in shares of Comcast by 1.6% during the 3rd quarter. Ironwood Financial llc now owns 15,449 shares of the cable giant’s stock valued at $685,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.