Zacks: Brokerages Expect Comcast Co. (CMCSA) Will Announce Quarterly Sales of $27.70 Billion

Equities research analysts expect Comcast Co. (NASDAQ:CMCSA) to report sales of $27.70 billion for the current quarter, according to Zacks. Fourteen analysts have provided estimates for Comcast’s earnings, with the highest sales estimate coming in at $28.20 billion and the lowest estimate coming in at $27.12 billion. Comcast posted sales of $21.74 billion in the same quarter last year, which would indicate a positive year over year growth rate of 27.4%. The firm is scheduled to report its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Comcast will report full year sales of $112.12 billion for the current fiscal year, with estimates ranging from $110.53 billion to $114.14 billion. For the next financial year, analysts forecast that the business will report sales of $117.95 billion, with estimates ranging from $115.51 billion to $119.93 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Comcast.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 25th. The cable giant reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.27 billion. Comcast had a net margin of 12.34% and a return on equity of 17.04%. Comcast’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share.

Several research analysts have commented on CMCSA shares. TD Securities upped their target price on shares of Comcast from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. BidaskClub upgraded shares of Comcast from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Credit Suisse Group reiterated a “buy” rating and issued a $44.00 price objective on shares of Comcast in a report on Tuesday, January 22nd. ValuEngine upgraded shares of Comcast from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, Nomura increased their price objective on shares of Comcast from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $44.65.

NASDAQ CMCSA opened at $43.54 on Monday. Comcast has a 52 week low of $30.67 and a 52 week high of $43.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $202.22 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.19 and a beta of 1.13.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, July 2nd. Comcast’s dividend payout ratio is presently 32.94%.

In related news, EVP Stephen B. Burke sold 457,633 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $43.35, for a total transaction of $19,838,390.55. Following the completion of the sale, the executive vice president now directly owns 1,078,189 shares of the company’s stock, valued at $46,739,493.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David L. Cohen sold 164,288 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $37.85, for a total transaction of $6,218,300.80. Following the sale, the executive vice president now directly owns 650,656 shares of the company’s stock, valued at $24,627,329.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,214,832 shares of company stock valued at $49,408,359. Company insiders own 1.35% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CMCSA. Norges Bank purchased a new stake in shares of Comcast in the 4th quarter valued at approximately $1,590,157,000. Oregon Public Employees Retirement Fund lifted its position in shares of Comcast by 6,558.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,520,863 shares of the cable giant’s stock valued at $984,000 after acquiring an additional 33,017,459 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Comcast by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock valued at $2,165,450,000 after acquiring an additional 5,992,911 shares in the last quarter. FMR LLC lifted its position in shares of Comcast by 3.9% in the 4th quarter. FMR LLC now owns 128,168,481 shares of the cable giant’s stock valued at $4,364,136,000 after acquiring an additional 4,854,006 shares in the last quarter. Finally, Sound Shore Management Inc. CT purchased a new stake in shares of Comcast in the 4th quarter valued at approximately $151,101,000. 81.61% of the stock is owned by institutional investors and hedge funds.

Comcast Company Profile

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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