Comcast (NASDAQ:CMCSA) Posts Earnings Results, Beats Expectations By $0.09 EPS

Comcast (NASDAQ:CMCSA) issued its quarterly earnings data on Tuesday. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09, Briefing.com reports. Comcast had a return on equity of 20.20% and a net margin of 12.46%. The business had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis.

Comcast Stock Performance

CMCSA stock traded up $0.15 during midday trading on Thursday, hitting $38.24. 18,246,811 shares of the company traded hands, compared to its average volume of 20,501,465. Comcast has a twelve month low of $36.43 and a twelve month high of $47.46. The stock has a market capitalization of $150.04 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The business has a 50 day simple moving average of $38.55 and a 200-day simple moving average of $40.71.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.24%. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of a number of recent analyst reports. KeyCorp dropped their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup cut their target price on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Wells Fargo & Company lowered their price target on Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Comcast in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.28.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is owned by insiders.

About Comcast

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.