Comcast (NASDAQ:CMCSA) Posts Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Comcast reported a quarterly earnings per share (EPS) of $1.25, exceeding analysts' expectations of $1.18 by $0.07, with revenues also surpassing estimates at $30.31 billion.
• The company announced a quarterly dividend of $0.33, representing a yield of 4.1%, with the ex-dividend date set for October 1st.
• Several analysts have recently adjusted their target prices for Comcast, with UBS Group lowering its target from $40 to $36 and Argus downgrading from "buy" to "hold."

Comcast (NASDAQ:CMCSA - Get Free Report) posted its quarterly earnings data on Thursday. The cable giant reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.07, Zacks reports. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The business had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm's revenue for the quarter was up 2.1% on a year-over-year basis.

Comcast Trading Down 2.1%

CMCSA stock traded down $0.71 during trading on Friday, hitting $32.52. The company had a trading volume of 22,392,993 shares, compared to its average volume of 19,415,812. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $34.79 and a 200-day moving average price of $35.11. Comcast has a 12 month low of $31.44 and a 12 month high of $45.31. The stock has a market cap of $121.42 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 1.61 and a beta of 0.92.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, October 1st. Comcast's payout ratio is 32.43%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMCSA. UBS Group decreased their target price on Comcast from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday. New Street Research decreased their target price on Comcast from $44.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Bernstein Bank decreased their target price on Comcast from $38.00 to $37.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Morgan Stanley lifted their target price on Comcast from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Argus downgraded Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Comcast has an average rating of "Hold" and an average price target of $40.77.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Comcast stock. Brighton Jones LLC raised its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 150.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 166,265 shares of the cable giant's stock after acquiring an additional 99,986 shares during the period. Brighton Jones LLC's holdings in Comcast were worth $6,240,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 84.32% of the company's stock.

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.

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