FY2024 EPS Estimates for Comcast Boosted by Seaport Res Ptn

Comcast Co. (NASDAQ:CMCSA) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Comcast in a research report issued to clients and investors on Thursday, November 21st. Seaport Res Ptn analyst D. Joyce now expects that the cable giant will post earnings of $4.29 per share for the year, up from their prior 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.

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

Other research analysts also recently issued research reports about the company. Pivotal Research boosted their target price on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Evercore ISI upgraded Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. Barclays boosted their target price on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $47.75 to $48.00 in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $42.64 on Monday. The business’s 50-day moving average price is $42.13 and its two-hundred day moving average price is $40.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. Comcast has a one year low of $36.43 and a one year high of $47.11. The company has a market capitalization of $163.16 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.91%. Comcast’s payout ratio is 33.33%.

Hedge Funds Weigh In On Comcast

Large investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in shares of Comcast in the 1st quarter worth approximately $773,000. Waverly Advisors LLC raised its holdings in shares of Comcast by 16.6% in the 1st quarter. Waverly Advisors LLC now owns 39,393 shares of the cable giant’s stock worth $1,708,000 after buying an additional 5,602 shares in the last quarter. Sweeney & Michel LLC acquired a new stake in Comcast during the 1st quarter valued at $684,000. B. Riley Wealth Advisors Inc. raised its position in Comcast by 6.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 108,416 shares of the cable giant’s stock valued at $4,807,000 after purchasing an additional 6,304 shares during the last quarter. Finally, Global Financial Private Client LLC raised its position in Comcast by 2.3% in the 1st quarter. Global Financial Private Client LLC now owns 25,253 shares of the cable giant’s stock valued at $1,068,000 after purchasing an additional 565 shares during the last quarter. Institutional investors and hedge funds 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.