Seaport Res Ptn Has Negative View of Comcast FY2024 Earnings

Comcast Co. (NASDAQ:CMCSA) – Investment analysts at Seaport Res Ptn lowered their FY2024 earnings per share estimates for Comcast in a research report issued to clients and investors on Thursday, December 19th. Seaport Res Ptn analyst D. Joyce now forecasts that the cable giant will post earnings of $4.25 per share for the year, down from their previous forecast of $4.28. 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 $0.88 EPS, Q3 2025 earnings at $1.27 EPS and FY2026 earnings at $5.18 EPS.

Other analysts have also recently issued research reports about the stock. Barclays raised their price objective on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, November 6th. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Comcast in a report on Tuesday, November 19th. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $47.75 to $48.00 in a report on Friday, November 1st. Finally, Macquarie boosted 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.06.

Comcast Stock Up 1.1 %

Shares of NASDAQ:CMCSA opened at $38.40 on Monday. The firm has a fifty day moving average price of $41.95 and a two-hundred day moving average price of $40.30. The company has a market cap of $146.94 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.50 and a beta of 0.99. 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.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $31.78 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year.

Institutional Investors Weigh In On Comcast

A number of hedge funds have recently added to or reduced their stakes in CMCSA. DGS Capital Management LLC boosted its position in Comcast by 4.5% in the third quarter. DGS Capital Management LLC now owns 28,498 shares of the cable giant’s stock worth $1,190,000 after purchasing an additional 1,221 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Comcast by 2.2% in the third quarter. Synovus Financial Corp now owns 154,036 shares of the cable giant’s stock worth $6,434,000 after buying an additional 3,323 shares during the last quarter. Tidal Investments LLC grew its position in Comcast by 15.2% during the third quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock valued at $7,161,000 after buying an additional 22,684 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in Comcast by 55,334.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock valued at $345,565,000 after buying an additional 8,258,128 shares during the last quarter. Finally, World Investment Advisors LLC raised its position in Comcast by 904.0% in the third quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after acquiring an additional 229,192 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s 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 completion of the transaction, the president now directly owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.23%. Comcast’s dividend payout ratio is currently 33.33%.

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.