FY2024 Earnings Estimate for Comcast Co. (NASDAQ:CMCSA) Issued By Seaport Res Ptn

Comcast Co. (NASDAQ:CMCSA - Free Report) - Analysts at Seaport Res Ptn raised their FY2024 earnings estimates for Comcast in a research 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 forecast 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 - Get Free Report) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned $0.92 EPS.

A number of other research firms have also recently issued reports on CMCSA. StockNews.com cut Comcast from a "strong-buy" rating to a "buy" rating in a report on Friday, March 22nd. Redburn Atlantic downgraded Comcast from a "buy" rating to a "neutral" rating and cut their target price for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Evercore ISI reiterated an "outperform" rating and issued a $50.00 price objective on shares of Comcast in a research report on Tuesday, March 26th. Citigroup dropped their price target on Comcast from $53.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Wells Fargo & Company decreased their price target on Comcast from $47.00 to $43.00 and set an "equal weight" rating for the company in a research note on Friday. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.60.

Comcast Price Performance

CMCSA stock traded up $0.28 during midday trading on Monday, reaching $38.85. The company had a trading volume of 14,665,014 shares, compared to its average volume of 20,884,555. The company has a market capitalization of $154.31 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. 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 stock has a 50 day moving average price of $41.58 and a 200-day moving average price of $42.55. Comcast has a 1-year low of $36.43 and a 1-year high of $47.46.

Institutional Investors Weigh In On Comcast

Several hedge funds have recently made changes to their positions in the company. Everett Harris & Co. CA lifted its position in Comcast by 7.7% in the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant's stock worth $73,993,000 after buying an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in shares of Comcast by 1.5% during 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 period. Altus Wealth Group LLC lifted its holdings in shares of Comcast by 8.3% during the 4th quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant's stock worth $823,000 after acquiring an additional 1,432 shares during the period. PFG Advisors lifted its holdings 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 acquiring an additional 5,159 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of Comcast during the 3rd quarter worth about $8,868,000. Hedge funds and other 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.