Comcast (NASDAQ:CMCSA) Issues Earnings Results

Comcast (NASDAQ:CMCSA) posted its quarterly earnings results on Tuesday. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09, Briefing.com reports. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year.

Comcast Trading Up 3.6 %

Comcast stock opened at $39.60 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.59. The company has a market capitalization of $155.38 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.95 and a beta of 1.00. Comcast has a one year low of $36.43 and a one year high of $47.46. The company’s fifty day moving average price is $38.53 and its two-hundred day moving average price is $40.69.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.13%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is 32.80%.

Insiders Place Their Bets

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Barclays reduced their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday. Citigroup reduced their price objective on Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday. Finally, The Goldman Sachs Group assumed coverage on Comcast in a research note on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.28.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.