$20.82 Billion in Sales Expected for Comcast Corporation (CMCSA) This Quarter

Equities analysts predict that Comcast Corporation (NASDAQ:CMCSA) will report sales of $20.82 billion for the current fiscal quarter, Zacks reports. Fifteen analysts have made estimates for Comcast Corporation’s earnings. The lowest sales estimate is $20.49 billion and the highest is $21.10 billion. Comcast Corporation reported sales of $19.27 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8%. The company is scheduled to report its next earnings report before the market opens on Thursday, July 27th.

According to Zacks, analysts expect that Comcast Corporation will report full year sales of $20.82 billion for the current fiscal year, with estimates ranging from $83.56 billion to $85.41 billion. For the next fiscal year, analysts forecast that the company will report sales of $89.97 billion per share, with estimates ranging from $87.17 billion to $91.72 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Comcast Corporation.

Comcast Corporation (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 27th. The cable giant reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. Comcast Corporation had a return on equity of 15.98% and a net margin of 11.12%. The business had revenue of $20.46 billion during the quarter, compared to analysts’ expectations of $20.10 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year.

Several brokerages have issued reports on CMCSA. Deutsche Bank AG restated a “buy” rating and set a $44.00 price objective on shares of Comcast Corporation in a research report on Tuesday, March 28th. Wells Fargo & Company reiterated an “outperform” rating and issued a $42.50 price target on shares of Comcast Corporation in a research report on Friday, April 7th. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 price target on shares of Comcast Corporation in a research report on Friday, April 7th. Wunderlich reiterated a “buy” rating and issued a $45.00 price target on shares of Comcast Corporation in a research report on Monday, April 10th. Finally, SunTrust Banks, Inc. began coverage on shares of Comcast Corporation in a research report on Tuesday, April 18th. They issued a “buy” rating and a $45.00 price target for the company. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.68.

Comcast Corporation (NASDAQ:CMCSA) traded up 0.1575% during trading on Friday, reaching $39.5522. The company’s stock had a trading volume of 8,446,108 shares. The stock has a market cap of $187.59 billion, a P/E ratio of 20.9826 and a beta of 1.01. Comcast Corporation has a 52-week low of $30.02 and a 52-week high of $42.18. The firm’s 50-day moving average is $40.04 and its 200-day moving average is $38.33.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 5th will be issued a $0.1575 dividend. The ex-dividend date is Friday, June 30th. This represents a $0.63 annualized dividend and a yield of 1.60%. Comcast Corporation’s payout ratio is 33.51%.

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In other news, Director Kenneth J. Bacon sold 7,500 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the transaction, the director now owns 26,812 shares in the company, valued at $1,085,886. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen B. Burke sold 258,380 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $38.99, for a total transaction of $10,074,236.20. Following the transaction, the executive vice president now owns 980,498 shares in the company, valued at approximately $38,229,617.02. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Comcast Corporation by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after buying an additional 98,570,377 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Comcast Corporation by 97.6% in the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock valued at $3,663,324,000 after buying an additional 48,147,456 shares in the last quarter. Dodge & Cox bought a new position in shares of Comcast Corporation during the fourth quarter valued at $2,643,845,000. Ameriprise Financial Inc. raised its position in shares of Comcast Corporation by 95.7% in the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock valued at $2,244,768,000 after buying an additional 29,199,805 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Comcast Corporation by 103.1% in the first quarter. Bank of New York Mellon Corp now owns 56,323,747 shares of the cable giant’s stock valued at $2,117,212,000 after buying an additional 28,597,277 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

About Comcast Corporation

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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