Comcast (CMCSA) Ascends While Market Falls: Some Facts to Note

The most recent trading session ended with Comcast (CMCSA) standing at $40.24, reflecting a +1.56% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.56%, while the tech-heavy Nasdaq depreciated by 2.05%.

The cable provider's stock has dropped by 7.62% in the past month, falling short of the Consumer Discretionary sector's loss of 5.74% and the S&P 500's loss of 2.57%.

Investors will be eagerly watching for the performance of Comcast in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 25, 2024. The company is predicted to post an EPS of $0.98, indicating a 6.52% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $29.81 billion, indicating a 0.39% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.23 per share and a revenue of $124.52 billion, indicating changes of +6.28% and +2.42%, respectively, from the former year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Comcast. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.84% lower. Right now, Comcast possesses a Zacks Rank of #4 (Sell).

Digging into valuation, Comcast currently has a Forward P/E ratio of 9.36. This indicates a premium in contrast to its industry's Forward P/E of 9.19.

Also, we should mention that CMCSA has a PEG ratio of 0.97. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Cable Television industry had an average PEG ratio of 0.71 as trading concluded yesterday.

The Cable Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 232, positioning it in the bottom 8% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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