Q3 2024 EPS Estimates for Comcast Co. (NASDAQ:CMCSA) Cut by Seaport Res Ptn

Comcast Co. (NASDAQ:CMCSA) – Seaport Res Ptn decreased their Q3 2024 earnings per share (EPS) estimates for Comcast in a research note issued to investors on Thursday, September 26th. Seaport Res Ptn analyst D. Joyce now anticipates that the cable giant will post earnings per share of $1.11 for the quarter, down from their prior forecast of $1.12. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for Comcast’s current full-year earnings is $4.23 per share. Seaport Res Ptn also issued estimates for Comcast’s FY2024 earnings at $4.15 EPS, Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.28 EPS, Q3 2025 earnings at $1.12 EPS, Q4 2025 earnings at $0.88 EPS, FY2025 earnings at $4.42 EPS and FY2028 earnings at $5.54 EPS.

Several other equities research analysts have also issued reports on CMCSA. KeyCorp dropped their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Evercore ISI dropped their price objective on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Finally, Barclays dropped their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $45.58.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $41.64 on Monday. The stock has a market cap of $163.38 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.01. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a fifty day moving average of $39.69 and a 200-day moving average of $39.57.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 earnings per share.

Institutional Investors Weigh In On Comcast

Large investors have recently made changes to their positions in the company. Centaurus Financial Inc. grew its position in Comcast by 77.2% in the second quarter. Centaurus Financial Inc. now owns 14,182 shares of the cable giant’s stock worth $555,000 after acquiring an additional 6,179 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Comcast by 77.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,594,006 shares of the cable giant’s stock worth $140,741,000 after acquiring an additional 1,568,995 shares in the last quarter. Verity & Verity LLC grew its position in Comcast by 20.4% in the second quarter. Verity & Verity LLC now owns 254,361 shares of the cable giant’s stock worth $9,961,000 after acquiring an additional 43,110 shares in the last quarter. Heritage Wealth Management Inc. purchased a new position in Comcast in the second quarter worth about $952,000. Finally, Sanctuary Advisors LLC purchased a new position in Comcast in the second quarter worth about $29,278,000. 84.32% of the stock is owned by institutional investors.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a yield of 2.98%. Comcast’s dividend payout ratio is presently 32.80%.

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.