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Comcast Corporation (CMCSA) Has Strong Growth Prospects Through 2023

Comcast Corporation (NASDAQ:CMCSA) has a beta value of 1.01 and has seen 3.01 million shares traded in the recent trading session. The company, currently valued at $168.62B, closed the recent trade at $40.08 per share which meant it lost -$0.18 on the day or -0.43% during that session. The CMCSA stock price is -27.74% off its 52-week high price of $51.20 and 29.17% above the 52-week low of $28.39. If we look at the company’s 10-day average daily trading volume, we find that it stood at 19.2 million shares traded. The 3-month trading volume is 24.19 million shares.

Comcast Corporation (NASDAQ:CMCSA) trade information

Sporting -0.43% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the CMCSA stock price touched $40.08 or saw a rise of 0.89%. Year-to-date, Comcast Corporation shares have moved 15.13%, while the 5-day performance has seen it change 3.42%. Over the past 30 days, the shares of Comcast Corporation (NASDAQ:CMCSA) have changed 17.00%. Short interest in the company has seen 79.5 million shares shorted with days to cover at 2.57.

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Comcast Corporation (CMCSA) estimates and forecasts

Figures show that Comcast Corporation shares have outperformed across the wider relevant industry. The company’s shares have lost -5.49% over the past 6 months, with this year growth rate of 11.46%, compared to 3.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 9.10% and 7.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 4.40%.

23 analysts offering their estimates for the company have set an average revenue estimate of $30.74 billion for the current quarter. 9 have an estimated revenue figure of $30.39 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $30.34 billion and $30.5 billion respectively for this quarter and the next, and analysts expect sales will grow by 1.30% for the current quarter and -0.40% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 11.30% over the past 5 years. Earnings growth for 2023 is a modest 33.50% while over the next 5 years, the company’s earnings are expected to increase by 8.67%.

CMCSA Dividends

Comcast Corporation is expected to release its next earnings report between January 25 and January 30 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.08 at a share yield of 2.68%. The company’s dividend yield has gone up over the past 12 months.

Comcast Corporation (NASDAQ:CMCSA)’s Major holders

Insiders own 0.69% of the company shares, while shares held by institutions stand at 85.36% with a share float percentage of 85.95%. Investors are also buoyed by the number of investors in a company, with Comcast Corporation having a total of 2,825 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 402.08 million shares worth more than $15.78 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 9.13% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 320.5 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $12.58 billion and represent 7.28% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Washington Mutual Investors Fund. As of Jun 29, 2022, the former fund manager holds about 2.99% shares in the company for having 131.64 million shares of worth $5.17 billion while later fund manager owns 101.95 million shares of worth $2.99 billion as of Sep 29, 2022, which makes it owner of about 2.32% of company’s outstanding stock.

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