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

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

Comcast Trading Down 1.1 %

NASDAQ CMCSA opened at $38.09 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $149.45 billion, a PE ratio of 10.08, a P/E/G ratio of 0.96 and a beta of 1.00. Comcast has a one year low of $36.43 and a one year high of $47.46. The firm’s fifty day moving average is $38.55 and its two-hundred day moving average is $40.71.

Comcast Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.26%. Comcast’s dividend payout ratio is currently 32.80%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CMCSA. Oppenheimer restated an “outperform” rating and set a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research report on Wednesday. KeyCorp lowered their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday. Scotiabank lowered their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. Finally, Macquarie reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Comcast in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $47.47.

Insider Buying and Selling at Comcast

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