Comcast (NASDAQ:CMCSA) Shares Gap Up Following Better-Than-Expected Earnings

Comcast Co. (NASDAQ:CMCSA)’s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $42.24, but opened at $45.21. Comcast shares last traded at $43.75, with a volume of 4,790,316 shares.

The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 32.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Wednesday, July 24th. KeyCorp lifted their target price on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday. Pivotal Research increased their price target on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday. Barclays dropped their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.63.

Hedge Funds Weigh In On Comcast

Several hedge funds have recently modified their holdings of CMCSA. Norden Group LLC boosted its stake in shares of Comcast by 15.8% during the 1st quarter. Norden Group LLC now owns 21,212 shares of the cable giant’s stock worth $920,000 after acquiring an additional 2,902 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Comcast by 6.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 94,411 shares of the cable giant’s stock valued at $4,093,000 after purchasing an additional 5,629 shares during the last quarter. Choreo LLC raised its position in shares of Comcast by 3.6% in the first quarter. Choreo LLC now owns 38,970 shares of the cable giant’s stock valued at $1,689,000 after purchasing an additional 1,350 shares during the period. BNP Paribas acquired a new stake in shares of Comcast during the 1st quarter worth about $4,117,000. Finally, Fidelis Capital Partners LLC boosted its holdings in shares of Comcast by 50.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 32,985 shares of the cable giant’s stock worth $1,430,000 after buying an additional 10,994 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

The stock’s 50 day moving average is $40.80 and its 200 day moving average is $39.58. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a market cap of $168.69 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.

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.