FY2024 EPS Estimates for Comcast Boosted by Seaport Res Ptn

Comcast Co. (NASDAQ:CMCSA) – Research analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for Comcast in a report released on Thursday, November 21st. Seaport Res Ptn analyst D. Joyce now anticipates that the cable giant will earn $4.29 per share for the year, up from their previous 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.

A number of other analysts have also weighed in on CMCSA. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a research note on Thursday. Macquarie upped their target price on Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. TD Cowen lowered their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their target price on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and an average price target of $47.19.

Comcast Stock Performance

Shares of CMCSA stock opened at $43.47 on Monday. Comcast has a 12-month low of $36.43 and a 12-month high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $166.34 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The business has a 50 day simple moving average of $41.98 and a 200 day simple moving average of $40.05.

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

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.85%. Comcast’s dividend payout ratio is currently 33.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMCSA. Koshinski Asset Management Inc. lifted its holdings in Comcast by 0.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock worth $1,277,000 after buying an additional 249 shares during the period. Taurus Asset Management LLC increased its stake in Comcast by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after buying an additional 253 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in shares of Comcast by 3.1% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock worth $353,000 after purchasing an additional 257 shares during the period. Abich Financial Wealth Management LLC boosted its position in Comcast by 4.7% during the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock worth $243,000 after purchasing an additional 260 shares during the period. Finally, Greenwich Wealth Management LLC boosted its holdings in shares of Comcast by 2.7% in the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock worth $382,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds 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.