Jefferies Group Comments on Comcast Corporation’s Q3 2017 Earnings (CMCSA)

Comcast Corporation (NASDAQ:CMCSA) – Investment analysts at Jefferies Group lifted their Q3 2017 earnings per share (EPS) estimates for Comcast Corporation in a research report issued on Thursday. Jefferies Group analyst M. Mccormack now anticipates that the cable giant will post earnings per share of $0.51 for the quarter, up from their prior forecast of $0.50. Jefferies Group currently has a “Buy” rating and a $47.00 price target on the stock. Jefferies Group also issued estimates for Comcast Corporation’s Q4 2017 earnings at $0.52 EPS and FY2017 earnings at $2.08 EPS.

CMCSA has been the subject of several other reports. KeyCorp reaffirmed a “neutral” rating on shares of Comcast Corporation in a report on Sunday, September 17th. UBS AG reiterated an “overweight” rating on shares of Comcast Corporation in a research note on Thursday, August 24th. Argus lifted their price target on shares of Comcast Corporation from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Barclays PLC set a $44.00 price target on shares of Comcast Corporation and gave the stock a “buy” rating in a research note on Friday, July 14th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $43.00 price target on shares of Comcast Corporation in a research note on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.83.

TRADEMARK VIOLATION NOTICE: “Jefferies Group Comments on Comcast Corporation’s Q3 2017 Earnings (CMCSA)” was originally published by Markets Daily and is the property of of Markets Daily. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://www.themarketsdaily.com/2017/10/13/jefferies-group-comments-on-comcast-corporations-q3-2017-earnings-cmcsa.html. Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The business had revenue of $21.17 billion during the quarter, compared to the consensus estimate of $20.85 billion. During the same period in the prior year, the firm posted $0.83 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in CMCSA. State Street Corp lifted its holdings 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 worth $7,499,933,000 after buying an additional 98,570,377 shares in the last quarter. Clearbridge Investments LLC lifted its holdings 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 worth $3,663,324,000 after buying an additional 48,147,456 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings 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 worth $2,244,768,000 after buying an additional 29,199,805 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings 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 worth $2,117,212,000 after buying an additional 28,597,277 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Comcast Corporation by 1,581.1% in the second quarter. Janus Henderson Group PLC now owns 28,199,798 shares of the cable giant’s stock worth $1,097,544,000 after buying an additional 26,522,368 shares in the last quarter. 81.93% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $39.61, for a total value of $144,932.99. Following the transaction, the senior vice president now owns 725 shares of the company’s stock, valued at $28,717.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the transaction, the executive vice president now directly owns 68,478 shares in the company, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,982 shares of company stock valued at $385,050. Company insiders own 1.28% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a $0.1575 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.75%. Comcast Corporation’s payout ratio is currently 31.74%.

Comcast Corporation Company Profile

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.

Earnings History and Estimates for Comcast Corporation (NASDAQ:CMCSA)

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