FY2024 EPS Estimates for Comcast Co. Raised by Analyst (NASDAQ:CMCSA)

Posted by Defense World Staff on Oct 5th, 2023

Comcast Co. (NASDAQ:CMCSA – Free Report) – Analysts at Zacks Research increased their FY2024 earnings estimates for shares of Comcast in a note issued to investors on Tuesday, October 3rd. Zacks Research analyst A. Ganguly now forecasts that the cable giant will post earnings of $3.93 per share for the year, up from their previous forecast of $3.90. The consensus estimate for Comcast’s current full-year earnings is $3.81 per share. Zacks Research also issued estimates for Comcast’s Q1 2025 earnings at $1.01 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $1.09 EPS and FY2025 earnings at $4.32 EPS.

Comcast (NASDAQ:CMCSA – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The cable giant reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.15. Comcast had a net margin of 5.40% and a return on equity of 19.79%. The firm had revenue of $30.51 billion during the quarter, compared to the consensus estimate of $30.11 billion. During the same period last year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year.

Several other equities research analysts also recently commented on CMCSA. Loop Capital boosted their target price on shares of Comcast from $50.00 to $53.00 in a research report on Friday, July 28th. Citigroup increased their price target on shares of Comcast from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Credit Suisse Group increased their target price on shares of Comcast from $50.00 to $54.00 in a report on Thursday, July 27th. Argus increased their target price on shares of Comcast from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Wolfe Research raised shares of Comcast from an “underperform” rating to a “peer perform” rating in a report on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.83.

Read Our Latest Report on Comcast

Comcast Stock Performance

NASDAQ CMCSA opened at $43.47 on Wednesday. The stock has a market cap of $179.32 billion, a PE ratio of 27.51, a PEG ratio of 1.24 and a beta of 0.99. The firm’s fifty day moving average price is $45.41 and its two-hundred day moving average price is $41.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. Comcast has a fifty-two week low of $28.39 and a fifty-two week high of $47.46.

Institutional Trading of Comcast

Large investors have recently made changes to their positions in the company. Moloney Securities Asset Management LLC boosted its position in Comcast by 3.8% during the second quarter. Moloney Securities Asset Management LLC now owns 6,102 shares of the cable giant’s stock valued at $254,000 after buying an additional 226 shares during the period. Mine & Arao Wealth Creation & Management LLC. raised its stake in shares of Comcast by 10.2% during the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,572 shares of the cable giant’s stock valued at $107,000 after acquiring an additional 238 shares during the last quarter. Intercontinental Wealth Advisors LLC raised its stake in shares of Comcast by 2.1% during the second quarter. Intercontinental Wealth Advisors LLC now owns 11,848 shares of the cable giant’s stock valued at $492,000 after acquiring an additional 240 shares during the last quarter. Tradewinds LLC. raised its stake in shares of Comcast by 1.3% during the second quarter. Tradewinds LLC. now owns 19,414 shares of the cable giant’s stock valued at $807,000 after acquiring an additional 241 shares during the last quarter. Finally, Thrive Wealth Management LLC raised its stake in shares of Comcast by 1.6% during the second quarter. Thrive Wealth Management LLC now owns 15,596 shares of the cable giant’s stock valued at $648,000 after acquiring an additional 246 shares during the last quarter. 82.85% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 2.67%. Comcast’s dividend payout ratio (DPR) is presently 73.42%.

Comcast Company Profile

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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, advertising sales, and Sky channels.