Comcast Corporation (CMCSA) Issues Earnings Results

Comcast Corporation (CMCSA) Issues  Earnings Results

Comcast Corporation (NASDAQ:CMCSA) issued its quarterly earnings results on Thursday. The cable giant reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.02. Comcast Corporation had a return on equity of 15.37% and a net margin of 10.81%. The company had revenue of $21 billion for the quarter, compared to analyst estimates of $20.67 billion. During the same quarter last year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year.

Shares of Comcast Corporation (NASDAQ:CMCSA) opened at 75.95 on Monday. Comcast Corporation has a one year low of $54.38 and a one year high of $76.87. The firm’s 50-day moving average price is $71.28 and its 200-day moving average price is $67.42. The company has a market capitalization of $183.04 billion, a price-to-earnings ratio of 21.30 and a beta of 1.11.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th will be issued a dividend of $0.1575 per share. This is a positive change from Comcast Corporation’s previous quarterly dividend of $0.14. This represents a $0.63 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Monday, April 3rd. Comcast Corporation’s payout ratio is currently 30.81%.

In other news, EVP Arthur R. Block sold 1,680 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $70.80, for a total transaction of $118,944.00. Following the completion of the sale, the executive vice president now directly owns 47,853 shares in the company, valued at $3,387,992.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Neil Smit sold 15,121 shares of the stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $69.57, for a total transaction of $1,051,967.97. Following the sale, the executive vice president now owns 62,208 shares of the company’s stock, valued at $4,327,810.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,488 shares of company stock valued at $1,988,731. 1.27% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in shares of Comcast Corporation by 1.4% in the second quarter. Meeder Asset Management Inc. now owns 75,168 shares of the cable giant’s stock valued at $4,901,000 after buying an additional 1,015 shares during the period. Conning Inc. raised its stake in shares of Comcast Corporation by 0.4% in the second quarter. Conning Inc. now owns 75,099 shares of the cable giant’s stock valued at $4,896,000 after buying an additional 330 shares during the period. WealthTrust Axiom LLC raised its stake in shares of Comcast Corporation by 0.9% in the second quarter. WealthTrust Axiom LLC now owns 11,637 shares of the cable giant’s stock valued at $758,000 after buying an additional 99 shares during the period. Prospera Financial Services Inc raised its stake in shares of Comcast Corporation by 106.3% in the second quarter. Prospera Financial Services Inc now owns 12,468 shares of the cable giant’s stock valued at $813,000 after buying an additional 6,424 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Comcast Corporation by 2.4% in the second quarter. Cullen Frost Bankers Inc. now owns 138,654 shares of the cable giant’s stock valued at $9,039,000 after buying an additional 3,242 shares during the period. Institutional investors own 82.29% of the company’s stock.

Several brokerages have recently issued reports on CMCSA. Jefferies Group LLC lifted their price target on Comcast Corporation to $86.00 in a research note on Friday. Instinet raised their price objective on Comcast Corporation to $85.00 in a report on Friday. Pivotal Research raised their price objective on Comcast Corporation to $95.00 and gave the company a “buy” rating in a report on Thursday. Telsey Advisory Group raised their price objective on Comcast Corporation from $76.00 to $84.00 and gave the company an “outperform” rating in a report on Tuesday, January 24th. Finally, HSBC Holdings plc started coverage on Comcast Corporation in a report on Thursday, January 19th. They set a “buy” rating and a $83.00 price objective on the stock. Twenty-one analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $77.76.

Comcast Corporation Company Profile

Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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