$29.88 Billion in Sales Expected for Comcast Co. (NASDAQ:CMCSA) This Quarter

Wall Street brokerages expect Comcast Co. (NASDAQ:CMCSAGet Rating) to post sales of $29.88 billion for the current fiscal quarter, Zacks reports. Fourteen analysts have issued estimates for Comcast’s earnings. The lowest sales estimate is $28.73 billion and the highest is $30.34 billion. Comcast posted sales of $28.55 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Comcast will report full year sales of $122.76 billion for the current financial year, with estimates ranging from $120.75 billion to $124.36 billion. For the next year, analysts expect that the business will report sales of $124.70 billion, with estimates ranging from $118.07 billion to $129.91 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Comcast.

Comcast (NASDAQ:CMCSAGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The cable giant reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Comcast had a return on equity of 15.92% and a net margin of 11.96%. The company had revenue of $31.01 billion during the quarter, compared to analyst estimates of $30.40 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Comcast from $60.00 to $52.00 in a report on Friday, April 29th. Oppenheimer decreased their price objective on Comcast from $75.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, April 14th. Barclays decreased their price target on Comcast from $56.00 to $48.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Comcast from $62.00 to $60.00 in a research note on Friday, April 29th. Finally, StockNews.com upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Comcast currently has an average rating of “Buy” and a consensus price target of $59.46.

CMCSA stock traded up $0.09 during midday trading on Monday, reaching $41.48. 29,683,734 shares of the company traded hands, compared to its average volume of 28,019,254. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50 day moving average of $45.28 and a 200-day moving average of $48.37. The firm has a market capitalization of $188.04 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.85 and a beta of 0.97. Comcast has a 52-week low of $39.47 and a 52-week high of $61.80.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a $0.27 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.60%. Comcast’s payout ratio is currently 34.84%.

In related news, CEO David N. Watson sold 65,410 shares of the firm’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $45.69, for a total value of $2,988,582.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.35% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Comcast in the 3rd quarter valued at approximately $26,000. AHL Investment Management Inc. purchased a new stake in Comcast in the 4th quarter valued at approximately $30,000. Sandy Cove Advisors LLC purchased a new stake in Comcast in the 4th quarter valued at approximately $31,000. Core Alternative Capital lifted its stake in Comcast by 86.9% in the 4th quarter. Core Alternative Capital now owns 684 shares of the cable giant’s stock valued at $34,000 after buying an additional 318 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in Comcast in the 4th quarter valued at approximately $36,000. Institutional investors own 83.33% of the company’s stock.

About Comcast (Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

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