Comcast Co. (CMCSA) Expected to Announce Quarterly Sales of $26.96 Billion
Wall Street analysts forecast that Comcast Co. (NASDAQ:CMCSA) will announce sales of $26.96 billion for the current quarter, Zacks reports. Thirteen analysts have provided estimates for Comcast’s earnings. The highest sales estimate is $28.32 billion and the lowest is $22.15 billion. Comcast posted sales of $22.79 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 18.3%. The firm is expected to announce its next quarterly earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that Comcast will report full year sales of $110.96 billion for the current financial year, with estimates ranging from $91.83 billion to $114.14 billion. For the next financial year, analysts expect that the business will post sales of $116.51 billion, with estimates ranging from $96.36 billion to $119.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Comcast.
Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Wednesday, January 23rd. The cable giant reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The firm had revenue of $27.85 billion for the quarter, compared to analysts’ expectations of $27.56 billion. Comcast had a return on equity of 16.49% and a net margin of 12.41%. Comcast’s revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS.
NASDAQ CMCSA traded up $0.60 during trading on Tuesday, reaching $40.47. 66,887,425 shares of the company’s stock were exchanged, compared to its average volume of 21,381,270. Comcast has a fifty-two week low of $30.43 and a fifty-two week high of $40.52. The firm has a market capitalization of $187.96 billion, a PE ratio of 15.87, a PEG ratio of 1.19 and a beta of 1.10. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.48.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. This is a positive change from Comcast’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 2nd. Comcast’s payout ratio is currently 29.80%.
In related news, EVP Arthur R. Block sold 5,743 shares of the firm’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $36.41, for a total value of $209,102.63. Following the transaction, the executive vice president now directly owns 73,630 shares of the company’s stock, valued at approximately $2,680,868.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur R. Block sold 4,129 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $33.80, for a total value of $139,560.20. Following the completion of the transaction, the executive vice president now directly owns 67,912 shares in the company, valued at $2,295,425.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 912,661 shares of company stock valued at $34,195,979. 1.31% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its position in Comcast by 29.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 740,355 shares of the cable giant’s stock worth $26,218,000 after buying an additional 166,544 shares during the period. Victory Capital Management Inc. increased its position in Comcast by 53.5% in the 3rd quarter. Victory Capital Management Inc. now owns 713,179 shares of the cable giant’s stock worth $25,254,000 after buying an additional 248,581 shares during the period. ProVise Management Group LLC increased its position in Comcast by 10.9% in the 3rd quarter. ProVise Management Group LLC now owns 189,344 shares of the cable giant’s stock worth $6,705,000 after buying an additional 18,608 shares during the period. Cannell Peter B & Co. Inc. increased its position in Comcast by 1.2% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 532,078 shares of the cable giant’s stock worth $18,841,000 after buying an additional 6,450 shares during the period. Finally, Berman Capital Advisors LLC bought a new position in Comcast in the 3rd quarter worth approximately $218,000. 80.18% of the stock is currently owned by institutional investors and hedge funds.
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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