Analysts Set Expectations for Comcast FY2024 Earnings

Comcast Co. (NASDAQ:CMCSA) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for shares of Comcast in a research 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 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 announced its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. TD Cowen decreased their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Comcast in a report on Tuesday, November 19th. StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th. Finally, Macquarie raised their price target on Comcast from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.06.

Comcast Stock Performance

Shares of CMCSA stock opened at $38.80 on Monday. Comcast has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The company has a market cap of $148.47 billion, a P/E ratio of 10.43, a PEG ratio of 1.50 and a beta of 0.99. The firm has a fifty day moving average price of $42.23 and a 200 day moving average price of $40.34.

Institutional Investors Weigh In On Comcast

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Koshinski Asset Management Inc. grew its stake in Comcast by 0.8% during the third 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 last quarter. Taurus Asset Management LLC grew its holdings in shares of Comcast by 2.9% during the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock worth $381,000 after purchasing an additional 253 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its stake in shares of Comcast by 3.1% in the third quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after buying an additional 257 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Comcast by 4.7% in the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock valued at $243,000 after buying an additional 260 shares during the last quarter. Finally, Greenwich Wealth Management LLC lifted its position in Comcast by 2.7% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock worth $382,000 after buying an additional 261 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insider Buying and Selling

In other news, CEO Brian L. Roberts sold 234,464 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated 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 of the company’s stock, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given 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 3.20%. Comcast’s dividend payout ratio is presently 33.33%.

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.