Comcast Co. (NASDAQ:CMCSA) – Oppenheimer raised their Q2 2020 earnings per share (EPS) estimates for Comcast in a research note issued on Friday, June 26th. Oppenheimer analyst T. Horan now expects that the cable giant will earn $0.57 per share for the quarter, up from their previous estimate of $0.50. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Comcast’s Q3 2020 earnings at $0.43 EPS.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 30th. The cable giant reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Comcast had a net margin of 10.72% and a return on equity of 17.56%. The business had revenue of $26.61 billion during the quarter, compared to analysts’ expectations of $26.71 billion. During the same period last year, the company posted $0.76 EPS. The business’s revenue was down .9% on a year-over-year basis.
Other research analysts also recently issued research reports about the stock. Credit Suisse Group cut their price objective on shares of Comcast from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, March 27th. Barclays reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Comcast in a report on Friday, April 17th. TD Securities dropped their price objective on shares of Comcast from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 6th. ValuEngine downgraded shares of Comcast from a “hold” rating to a “sell” rating in a report on Monday, June 1st. Finally, Citigroup upped their price objective on shares of Comcast from $40.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $48.00.
NASDAQ:CMCSA opened at $38.98 on Monday. The firm has a 50-day simple moving average of $39.13 and a 200-day simple moving average of $40.67. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.87 and a current ratio of 0.87. Comcast has a one year low of $31.70 and a one year high of $47.74. The firm has a market cap of $175.97 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.73 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Tuesday, June 30th. Comcast’s dividend payout ratio (DPR) is 29.39%.
In related news, CAO Daniel C. Murdock sold 4,536 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $38.60, for a total value of $175,089.60. Following the completion of the sale, the chief accounting officer now owns 10,085 shares of the company’s stock, valued at $389,281. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel C. Murdock sold 919 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $37.53, for a total transaction of $34,490.07. Following the completion of the sale, the chief accounting officer now directly owns 2,654 shares of the company’s stock, valued at approximately $99,604.62. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Comcast during the 4th quarter worth about $2,140,195,000. Capital Research Global Investors increased its position in Comcast by 287.6% in the first quarter. Capital Research Global Investors now owns 46,638,161 shares of the cable giant’s stock worth $1,603,422,000 after buying an additional 34,605,876 shares during the period. Capital International Investors increased its position in Comcast by 30.9% in the fourth quarter. Capital International Investors now owns 134,005,521 shares of the cable giant’s stock worth $6,026,230,000 after buying an additional 31,604,388 shares during the period. Viking Global Investors LP increased its position in Comcast by 6,072.2% in the first quarter. Viking Global Investors LP now owns 17,902,783 shares of the cable giant’s stock worth $615,498,000 after buying an additional 17,612,726 shares during the period. Finally, Parnassus Investments CA increased its position in Comcast by 128.9% in the first quarter. Parnassus Investments CA now owns 21,254,365 shares of the cable giant’s stock worth $730,725,000 after buying an additional 11,968,000 shares during the period. 83.23% of the stock is owned by hedge funds and other institutional investors.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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