Seaport Res Ptn Comments on Comcast Co.’s FY2024 Earnings (NASDAQ:CMCSA)

Comcast Co. (NASDAQ:CMCSA) – Equities research analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Comcast in a report issued on Friday, April 26th. Seaport Res Ptn analyst D. Joyce now expects that the cable giant will post earnings per share of $4.28 for the year, up from their prior estimate of $4.20. The consensus estimate for Comcast’s current full-year earnings is $4.21 per share. Seaport Res Ptn also issued estimates for Comcast’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.25 EPS, Q4 2025 earnings at $1.04 EPS and FY2025 earnings at $4.58 EPS.

A number of other brokerages have also recently issued reports on CMCSA. Evercore ISI reiterated an “outperform” rating and set a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Oppenheimer reiterated an “outperform” rating and set a $55.00 target price on shares of Comcast in a research report on Wednesday, April 3rd. BNP Paribas restated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Tuesday, April 9th. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Friday. Finally, Wells Fargo & Company lowered their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.83.

Comcast Price Performance

NASDAQ:CMCSA opened at $38.57 on Monday. The company has a market capitalization of $153.19 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.60 and a current ratio of 0.59. The company has a 50-day moving average of $41.58 and a 200-day moving average of $42.55. Comcast has a 52 week low of $36.43 and a 52 week high of $47.46.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The company had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Everett Harris & Co. CA boosted its position in shares of Comcast by 7.7% in the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after acquiring an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. increased its position in Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after purchasing an additional 1,486 shares during the period. Altus Wealth Group LLC increased its position in Comcast by 8.3% during the 4th quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock valued at $823,000 after purchasing an additional 1,432 shares during the period. PFG Advisors grew its position in shares of Comcast by 28.8% during the 4th quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock worth $1,012,000 after buying an additional 5,159 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of Comcast in the 3rd quarter worth $8,868,000. Institutional investors 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.