Seaport Res Ptn Issues Negative Outlook for Comcast Earnings

Comcast Co. (NASDAQ:CMCSA) – Equities researchers at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of Comcast in a note issued to investors on Wednesday, December 11th. Seaport Res Ptn analyst D. Joyce now expects that the cable giant will post earnings per share of $4.28 for the year, down from their prior forecast of $4.29. Seaport Res Ptn currently 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.

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

A number of other brokerages also recently issued reports on CMCSA. Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Comcast in a research report on Tuesday, November 19th. Pivotal Research lifted their price target on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays upped their price objective on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, TD Cowen reduced their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Price Performance

NASDAQ:CMCSA opened at $39.92 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast has a 52 week low of $36.43 and a 52 week high of $47.11. The stock’s 50-day moving average price is $42.31 and its 200-day moving average price is $40.35. The stock has a market capitalization of $152.76 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.11%. Comcast’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of Comcast 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. The trade was 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 available through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comcast

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in shares of Comcast by 1.4% during the second quarter. Assenagon Asset Management S.A. now owns 156,805 shares of the cable giant’s stock worth $6,140,000 after acquiring an additional 2,226 shares during the period. Western Wealth Management LLC grew its position in shares of Comcast by 6.5% in the 2nd quarter. Western Wealth Management LLC now owns 19,328 shares of the cable giant’s stock valued at $757,000 after buying an additional 1,179 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Comcast by 1.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 38,773 shares of the cable giant’s stock valued at $1,518,000 after buying an additional 618 shares during the last quarter. Accredited Investors Inc. raised its stake in Comcast by 18.3% during the 2nd quarter. Accredited Investors Inc. now owns 5,926 shares of the cable giant’s stock worth $232,000 after acquiring an additional 915 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Comcast by 4.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 25,565 shares of the cable giant’s stock valued at $1,001,000 after purchasing an additional 1,025 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

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.