FY2024 EPS Estimates for Comcast Reduced by Seaport Res Ptn

Comcast Co. (NASDAQ:CMCSA) – Research analysts at Seaport Res Ptn cut their FY2024 EPS estimates for Comcast in a note issued to investors on Wednesday, December 11th. Seaport Res Ptn analyst D. Joyce now anticipates that the cable giant will earn $4.28 per share for the year, down from their prior 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 also recently commented on CMCSA. Evercore ISI raised Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Morgan Stanley cut shares of Comcast from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $48.00 to $45.00 in a research note on Monday. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Comcast in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised their price target on shares of Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.06.

Comcast Stock Performance

Shares of CMCSA opened at $38.86 on Monday. Comcast has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a market cap of $148.70 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.50 and a beta of 0.99. The business’s 50 day moving average price is $42.27 and its 200-day moving average price is $40.35.

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

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is 33.33%.

Insider Activity

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the sale, the president now owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Institutional Trading of Comcast

Large investors have recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in shares of Comcast in the second quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in Comcast during the second quarter worth about $27,000. McClarren Financial Advisors Inc. increased its holdings in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Comcast in the third quarter valued at $30,000. Finally, Archer Investment Corp lifted its stake in Comcast by 177.1% during the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after acquiring an additional 519 shares in the last quarter. Hedge funds and other institutional investors 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.