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

Comcast Co. (NASDAQ:CMCSA) – Stock analysts at Seaport Res Ptn raised their FY2024 EPS estimates for shares of Comcast in a report issued on Friday, April 26th. Seaport Res Ptn analyst D. Joyce now forecasts that the cable giant will earn $4.28 per share for the year, up from their previous 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.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. Comcast’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share.

Other equities research analysts also recently issued research reports about the stock. Scotiabank cut their target price on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Friday. Redburn Atlantic cut shares of Comcast from a “buy” rating to a “neutral” rating and reduced their target price for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Wells Fargo & Company reduced 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 note on Friday. Finally, Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Comcast in a research report on Wednesday, April 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Comcast currently has an average rating of “Moderate Buy” and an average price target of $49.60.

Comcast Price Performance

Shares of CMCSA opened at $38.85 on Monday. The business’s 50-day moving average is $41.54 and its 200-day moving average is $42.51. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $154.31 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 0.95 and a beta of 0.98. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.46.

Institutional Investors Weigh In On Comcast

A number of hedge funds have recently made changes to their positions in CMCSA. Norges Bank bought a new position in shares of Comcast in the fourth quarter valued at about $2,542,988,000. Capital World Investors raised its stake in shares of Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after acquiring an additional 15,625,543 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Comcast by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock worth $446,303,000 after purchasing an additional 2,861,358 shares in the last quarter. Morningstar Investment Services LLC grew its stake in shares of Comcast by 116.8% during the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after purchasing an additional 2,772,190 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Comcast by 215.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock valued at $158,835,000 after purchasing an additional 2,474,946 shares in 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.