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Comcast (CMCSA) Dips More Than Broader Markets: What You Should Know
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Comcast (CMCSA - Free Report) closed at $42.01 in the latest trading session, marking a -1.29% move from the prior day. This change lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the cable provider had gained 2.63% in the past month. In that same time, the Consumer Discretionary sector gained 0.66%, while the S&P 500 gained 3.39%.
Comcast will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. On that day, Comcast is projected to report earnings of $0.98 per share, which would represent a year-over-year decline of 2.97%. Our most recent consensus estimate is calling for quarterly revenue of $30.28 billion, up 0.86% from the year-ago period.
CMCSA's full-year Zacks Consensus Estimates are calling for earnings of $3.71 per share and revenue of $120.59 billion. These results would represent year-over-year changes of +1.92% and -0.69%, respectively.
Investors might also notice recent changes to analyst estimates for Comcast. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.04% lower within the past month. Comcast currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Comcast has a Forward P/E ratio of 11.46 right now. Its industry sports an average Forward P/E of 12.59, so we one might conclude that Comcast is trading at a discount comparatively.
Also, we should mention that CMCSA has a PEG ratio of 1.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CMCSA's industry had an average PEG ratio of 1.11 as of yesterday's close.
The Cable Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Comcast (CMCSA) Dips More Than Broader Markets: What You Should Know
Comcast (CMCSA - Free Report) closed at $42.01 in the latest trading session, marking a -1.29% move from the prior day. This change lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.8%.
Coming into today, shares of the cable provider had gained 2.63% in the past month. In that same time, the Consumer Discretionary sector gained 0.66%, while the S&P 500 gained 3.39%.
Comcast will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. On that day, Comcast is projected to report earnings of $0.98 per share, which would represent a year-over-year decline of 2.97%. Our most recent consensus estimate is calling for quarterly revenue of $30.28 billion, up 0.86% from the year-ago period.
CMCSA's full-year Zacks Consensus Estimates are calling for earnings of $3.71 per share and revenue of $120.59 billion. These results would represent year-over-year changes of +1.92% and -0.69%, respectively.
Investors might also notice recent changes to analyst estimates for Comcast. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.04% lower within the past month. Comcast currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Comcast has a Forward P/E ratio of 11.46 right now. Its industry sports an average Forward P/E of 12.59, so we one might conclude that Comcast is trading at a discount comparatively.
Also, we should mention that CMCSA has a PEG ratio of 1.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CMCSA's industry had an average PEG ratio of 1.11 as of yesterday's close.
The Cable Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.