Seaport Res Ptn Reduces Earnings Estimates for Comcast

Comcast Co. (NASDAQ:CMCSA) – Equities researchers at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for shares of Comcast in a research report issued to clients and investors on Wednesday, December 11th. Seaport Res Ptn analyst D. Joyce now forecasts that the cable giant will post earnings of $4.28 per share for the year, down from their previous forecast of $4.29. Seaport Res Ptn has a “Strong-Buy” rating on the stock. 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 $0.90 EPS, Q1 2025 earnings at $1.04 EPS, FY2026 earnings at $5.23 EPS, FY2027 earnings at $5.65 EPS and FY2028 earnings at $6.16 EPS.

Several other research firms have also issued reports on CMCSA. Barclays raised their price target on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. KeyCorp boosted their target price on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price target on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company boosted their price objective on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Comcast in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.06.

Comcast Stock Down 2.7 %

NASDAQ:CMCSA opened at $38.86 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. Comcast has a one year low of $36.43 and a one year high of $47.11. The firm’s 50 day simple moving average is $42.27 and its 200 day simple moving average is $40.35. The company has a market cap of $148.70 billion, a PE ratio of 10.45, a P/E/G ratio of 1.50 and a beta of 0.99.

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

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Comcast

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Comcast by 5.4% during the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after purchasing an additional 6,062,658 shares during the period. Dimensional Fund Advisors LP raised its holdings in Comcast by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after buying an additional 1,000,626 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Comcast by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after buying an additional 416,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Comcast by 6.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock valued at $1,268,310,000 after acquiring an additional 1,717,762 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of Comcast by 5.4% during the third quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock valued at $667,620,000 after acquiring an additional 822,936 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

About Comcast

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.