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

Comcast Co. (NASDAQ:CMCSA) – Equities researchers at Seaport Res Ptn dropped their Q3 2024 earnings per share estimates for shares of Comcast in a research report issued to clients and investors on Tuesday, July 30th. Seaport Res Ptn analyst D. Joyce now anticipates that the cable giant will post earnings of $1.12 per share for the quarter, down from their prior estimate of $1.19. 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 Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $4.18 EPS, Q1 2025 earnings at $1.12 EPS, Q2 2025 earnings at $1.27 EPS, Q3 2025 earnings at $1.15 EPS, Q4 2025 earnings at $0.96 EPS and FY2025 earnings at $4.50 EPS.

Several other research firms also recently issued reports on CMCSA. Pivotal Research dropped their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. BNP Paribas downgraded Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 11th. Barclays dropped their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company dropped their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Evercore ISI dropped 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus target price of $46.01.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $39.90 on Thursday. The stock has a fifty day simple moving average of $38.70 and a two-hundred day simple moving average of $40.57. Comcast has a 1-year low of $36.43 and a 1-year high of $47.46. The firm has a market cap of $156.55 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last released 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 return on equity of 20.17% and a net margin of 12.46%. 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 prior year, the company posted $1.13 earnings per share. Comcast’s quarterly revenue was down 2.7% on a year-over-year basis.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.11%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Comcast

Several large investors have recently made changes to their positions in CMCSA. Wealthspire Advisors LLC raised its holdings in Comcast by 4.8% in the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after acquiring an additional 2,781 shares during the last quarter. Desjardins Global Asset Management Inc. raised its holdings in Comcast by 1.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after acquiring an additional 1,486 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in Comcast in the 4th quarter worth approximately $2,056,000. Axxcess Wealth Management LLC raised its holdings in Comcast by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after acquiring an additional 10,936 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Comcast by 3.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock worth $495,694,000 after acquiring an additional 368,685 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

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.