Seaport Res Ptn Research Analysts Lower Earnings Estimates for Comcast Co. (NASDAQ:CMCSA)

Comcast Co. (NASDAQ:CMCSA) – Equities researchers at Seaport Res Ptn lowered their Q3 2024 earnings per share estimates for Comcast in a research report issued on Thursday, September 26th. Seaport Res Ptn analyst D. Joyce now forecasts that the cable giant will earn $1.11 per share for the quarter, down from their prior estimate of $1.12. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for Comcast’s current full-year earnings is $4.23 per share. Seaport Res Ptn also issued estimates for Comcast’s FY2024 earnings at $4.15 EPS, Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.28 EPS, Q3 2025 earnings at $1.12 EPS, Q4 2025 earnings at $0.88 EPS, FY2025 earnings at $4.42 EPS and FY2028 earnings at $5.54 EPS.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. During the same period in the previous year, the business posted $1.13 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year.

CMCSA has been the topic of several other reports. Evercore ISI lowered their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Pivotal Research reduced their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Macquarie restated a “neutral” rating and set a $40.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.58.

Comcast Trading Down 0.2 %

Shares of Comcast stock opened at $41.70 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $163.62 billion, a PE ratio of 11.03, a P/E/G ratio of 1.08 and a beta of 1.01. Comcast has a 1-year low of $36.43 and a 1-year high of $47.11. The company’s fifty day simple moving average is $39.80 and its 200-day simple moving average is $39.55.

Hedge Funds Weigh In On Comcast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMCSA. Bollard Group LLC boosted its position in shares of Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after purchasing an additional 244 shares during the period. Tortoise Investment Management LLC lifted its stake in Comcast by 4.5% during the 4th quarter. Tortoise Investment Management LLC now owns 5,801 shares of the cable giant’s stock worth $254,000 after acquiring an additional 249 shares in the last quarter. Greenwich Wealth Management LLC increased its stake in Comcast by 2.7% during the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock worth $382,000 after purchasing an additional 261 shares during the period. Verum Partners LLC boosted its stake in shares of Comcast by 4.9% in the second quarter. Verum Partners LLC now owns 5,663 shares of the cable giant’s stock valued at $222,000 after purchasing an additional 267 shares during the period. Finally, Mcdonald Partners LLC increased its stake in Comcast by 1.4% during the 1st quarter. Mcdonald Partners LLC now owns 19,591 shares of the cable giant’s stock worth $849,000 after buying an additional 270 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is currently 32.80%.

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.