Seaport Res Ptn Issues Positive Outlook for Comcast Earnings

Comcast Co. (NASDAQ:CMCSA) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Comcast in a research report issued to clients and investors on Thursday, November 21st. Seaport Res Ptn analyst D. Joyce now expects that the cable giant will post earnings of $4.29 per share for the year, up from their prior forecast of $4.27. The consensus estimate for Comcast’s current full-year earnings is $4.26 per share. Seaport Res Ptn also issued estimates for Comcast’s Q4 2024 earnings at $0.92 EPS, Q2 2025 earnings at $1.23 EPS, Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $4.64 EPS and FY2026 earnings at $5.28 EPS.

Other equities research analysts have also issued reports about the company. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $47.75 to $48.00 in a report on Friday, November 1st. TD Cowen reduced their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Barclays increased their price target on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Macquarie raised their target price on Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.19.

Comcast Stock Performance

Shares of CMCSA opened at $43.20 on Monday. Comcast has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $165.31 billion, a PE ratio of 11.61, a PEG ratio of 1.64 and a beta of 1.00. The company’s 50 day moving average price is $42.06 and its 200 day moving average price is $40.08.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. Comcast’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is 33.33%.

Institutional Investors Weigh In On Comcast

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in Comcast in the first quarter worth $773,000. Waverly Advisors LLC lifted its position in Comcast by 16.6% during the 1st quarter. Waverly Advisors LLC now owns 39,393 shares of the cable giant’s stock worth $1,708,000 after buying an additional 5,602 shares in the last quarter. Sweeney & Michel LLC acquired a new stake in Comcast in the 1st quarter valued at about $684,000. B. Riley Wealth Advisors Inc. increased its position in Comcast by 6.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 108,416 shares of the cable giant’s stock valued at $4,807,000 after acquiring an additional 6,304 shares in the last quarter. Finally, Global Financial Private Client LLC raised its stake in shares of Comcast by 2.3% in the first quarter. Global Financial Private Client LLC now owns 25,253 shares of the cable giant’s stock worth $1,068,000 after acquiring an additional 565 shares during the last quarter. Institutional investors and hedge funds 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.