Comcast Co. (NASDAQ:CMCSA) Expected to Announce Quarterly Sales of $29.88 Billion

Equities analysts expect Comcast Co. (NASDAQ:CMCSAGet Rating) to post sales of $29.88 billion for the current fiscal quarter, Zacks reports. Fourteen analysts have made estimates for Comcast’s earnings, with estimates ranging from $28.73 billion to $30.34 billion. Comcast posted sales of $28.55 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Comcast will report full year sales of $122.76 billion for the current year, with estimates ranging from $120.75 billion to $124.36 billion. For the next financial year, analysts anticipate that the company will report sales of $124.70 billion, with estimates ranging from $118.07 billion to $129.91 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Comcast.

Comcast (NASDAQ:CMCSAGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The cable giant reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Comcast had a return on equity of 15.92% and a net margin of 11.96%. The company had revenue of $31.01 billion during the quarter, compared to analysts’ expectations of $30.40 billion. During the same period last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis.

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Comcast from $60.00 to $52.00 in a report on Friday, April 29th. Bank of America cut Comcast from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $50.00 in a report on Friday, April 29th. Barclays reduced their price target on Comcast from $56.00 to $48.00 in a report on Friday, April 29th. Morgan Stanley reduced their price target on Comcast from $60.00 to $55.00 in a report on Friday, April 29th. Finally, Pivotal Research reduced their price target on Comcast from $62.00 to $57.00 in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Comcast has a consensus rating of “Buy” and a consensus target price of $59.46.

In other Comcast news, CEO David N. Watson sold 65,410 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $45.69, for a total transaction of $2,988,582.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.35% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Comcast in the fourth quarter valued at $2,507,025,000. Capital Research Global Investors boosted its holdings in Comcast by 8.8% in the fourth quarter. Capital Research Global Investors now owns 156,125,921 shares of the cable giant’s stock valued at $7,857,828,000 after acquiring an additional 12,642,202 shares during the last quarter. Viking Global Investors LP acquired a new position in Comcast in the third quarter valued at $569,179,000. Marshall Wace LLP boosted its holdings in Comcast by 911.0% in the fourth quarter. Marshall Wace LLP now owns 7,571,121 shares of the cable giant’s stock valued at $381,055,000 after acquiring an additional 6,822,276 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Comcast by 62.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 15,271,853 shares of the cable giant’s stock valued at $715,028,000 after acquiring an additional 5,880,050 shares during the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Comcast stock traded up $0.09 during mid-day trading on Monday, reaching $41.48. 29,683,734 shares of the company were exchanged, compared to its average volume of 28,019,254. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $45.28 and its two-hundred day simple moving average is $48.37. The firm has a market cap of $188.04 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. Comcast has a twelve month low of $39.47 and a twelve month high of $61.80.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, July 5th. Comcast’s payout ratio is 34.84%.

About Comcast (Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

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