Comcast Corp. (NASDAQ: $CMCSA) has been on an upward trend for the past three days. Its shares rose 0.86% to close at $44.47, and as of Wednesday, October 11, 9:08:12 AM UTC-4, the shares were up 0.20%, trading at $44.56. The Tuesday close left the stock just $2.999 short of the 52-week high it achieved on August 16, 2023.
Comcast Beats the Market
The upward trend of CMCSA stock was in line with the buoyant stock market performance; the Dow Jones Industrial Average and S&P 500 Index gained 0.4 and 0.52%, respectively. Comcast was also doing better than the individual stock of competitors. Netflix Inc., for example, saw a drop of 3.27% as of Tuesday. The outstanding performance was despite the company’s volume being 15.4 million, lower than the 50-day average of 17.2 million.
However, Comcast’s shares have dropped 2.59% in the past month, a bigger loss than the average of the Consumer Discretionary sector loss of 3.68% and the S&P 500’s 2.61% loss.
Comcast’s Upcoming Earnings Report
Comcast is set to release its earnings report on October 26, 2023, which many analysts will closely examine. Analysts predict an EPS of $0.94, a 2.08% drop from last year’s quarter. They also predict that revenue will be $29.68 billion, a 0.56% drop compared to the same quarter a year ago.
However, the company has consistently beat projected EPS in the past four quarters. In fiscal Q2 ending June 30, 2023, Comcast reported an EPS of $1.13, a surprise of 15.51%. Additionally, the company beat revenue projections by 1.22% when it reported $ 30.51 in revenue.
For the full fiscal year, analysts predict $3.81 per share and revenue of $120.14 billion. That will represent a change of +4.67% and -1.06%, respectively, from the previous year. In terms of Buy consensus, analysts have given Comcast a hold rating. When checking the company’s valuation, CMCSA shares have a Forward P/E ratio of 11.57, which reveals they are trading at a discount compared to the average ratio of 12.07 in its industry.
CMCSA Future Outlook
Analysts on Wall Street predict Comcast stock to rise in the next 12 months. The analysts predict a 1-year price target of $50.02, with a low point of $39.39 and a high point of $57.75. When looking at the fundamentals, CMCSA shares are trading significantly below their fair market value. Earnings forecasts are predicted to grow at 17.51% per year, and the company pays a reliable average dividend of 2.61% per share.
Comcast Shares’ Future Looks Great
The continued upward trend of the CMCSA stock suggests investors are confident about the company’s prospects and future performance. This is despite the low trading volumes in the past weeks.
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