Is Comcast Corp (NASDAQ: CMCSA) Stock Poised for More Growth?

In the latest trading session, 1.9 million Comcast Corp (NASDAQ:CMCSA) shares changed hands as the company’s beta touched 1.04. With the company’s most recent per share price at $42.36 changed hands at -$0.58 or -1.35% at last look, the market valuation stands at $170.50B. CMCSA’s current price is a discount, trading about -12.04% off its 52-week high of $47.46. The share price had its 52-week low at $33.78, which suggests the last value was 20.25% up since then. When we look at Comcast Corp’s average trading volume, we note the 10-day average is 18.48 million shares, with the 3-month average coming to 18.66 million.

Analysts gave the Comcast Corp (CMCSA) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.87. If we narrow down to specifics, the data shows that 0 out of 31 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 12 recommended CMCSA as a Hold, 16 felt it is a Buy and 0 rated the stock as Underweight. Comcast Corp’s EPS for the current quarter is expected to be $0.79.

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Comcast Corp (NASDAQ:CMCSA) trade information

Instantly CMCSA was in red as seen in intraday trades today. With action 1.17%, the performance over the past five days has been green. The drop to weekly highs of 43.13 on Monday, 11/20/23 subtracted -1.35% to the stock’s daily price. The company’s shares are showing year-to-date upside of 21.13%, with the 5-day performance at 1.17% in the green. However, in the 30-day time frame, Comcast Corp (NASDAQ:CMCSA) is -1.35% down. Looking at the short shares, we see there were 45.67 million shares sold at short interest cover period of 2.26 days.

The consensus price target for the stock as assigned by Wall Street analysts is $49.37, meaning bulls need an upside of 14.2% from its recent market value. According to analyst projections, CMCSA’s forecast low is $43.00 with $55.00 as the target high. To hit the forecast high, the stock’s price needs a -29.84% plunge from its current level, while the stock would need to soar -1.51% for it to hit the projected low.

Comcast Corp (CMCSA) estimates and forecasts

Data shows that the Comcast Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 4.90% over the past 6 months, a 7.97% in annual growth rate that is considerably higher than the industry average of 4.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Comcast Corp will fall -3.70%, while the growth in revenue is estimated to hit 10.90% for the next quarter. Year-over-year growth is forecast to reach -0.60% down from the last financial year.

Consensus estimates given by 19 financial analysts project the company’s revenue in the current quarter to hit an average of $30.45 billion. 8 analysts are of the opinion that Comcast Corp’s revenue for the quarter ending Mar 2024 will be $29.98 billion. The company’s revenue for the corresponding quarters a year ago was $30.55 billion and $29.3 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -0.30%. The estimates for the next quarter sales put growth at 2.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.90%. The 2023 estimates are for Comcast Corp earnings to increase by 6.71%, but the outlook for the next 5-year period is at 9.29% per year.

CMCSA Dividends

Comcast Corp is expected to release its next quarterly earnings report between January 24 and January 29. The 2.73% annual yield figure for the share gives it an annual dividend of 1.16. It is important to note, however, that the 2.73% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Comcast Corp (NASDAQ:CMCSA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.74% of Comcast Corp shares while 87.90% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.55%. There are 87.90% institutions holding the Comcast Corp stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 9.53% of the shares, roughly 382.74 million CMCSA shares worth $16.25 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.65% or 307.01 million shares worth $13.03 billion as of Sep 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 129.71 million shares estimated at $5.51 billion under it, the former controlled 3.23% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.47% of the shares, roughly 99.03 million shares worth around $4.2 billion.

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