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Comcast (CMCSA) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest market close, Comcast (CMCSA - Free Report) reached $44.02, with a -0.41% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Meanwhile, the Dow experienced a rise of 0.87%, and the technology-dominated Nasdaq saw an increase of 1.26%.
The the stock of cable provider has risen by 4.05% in the past month, lagging the Consumer Discretionary sector's gain of 4.64% and overreaching the S&P 500's gain of 3.01%.
Market participants will be closely following the financial results of Comcast in its upcoming release. The company plans to announce its earnings on January 25, 2024. The company's earnings per share (EPS) are projected to be $0.81, reflecting a 1.22% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $30.41 billion, down 0.48% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.94 per share and revenue of $120.73 billion, which would represent changes of +8.24% and -0.58%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Comcast. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.31% higher. Currently, Comcast is carrying a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Comcast has a Forward P/E ratio of 11.21 right now. Its industry sports an average Forward P/E of 13.14, so one might conclude that Comcast is trading at a discount comparatively.
One should further note that CMCSA currently holds a PEG ratio of 1.08. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Cable Television industry was having an average PEG ratio of 1.08.
The Cable Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 200, positioning it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Comcast (CMCSA) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest market close, Comcast (CMCSA - Free Report) reached $44.02, with a -0.41% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Meanwhile, the Dow experienced a rise of 0.87%, and the technology-dominated Nasdaq saw an increase of 1.26%.
The the stock of cable provider has risen by 4.05% in the past month, lagging the Consumer Discretionary sector's gain of 4.64% and overreaching the S&P 500's gain of 3.01%.
Market participants will be closely following the financial results of Comcast in its upcoming release. The company plans to announce its earnings on January 25, 2024. The company's earnings per share (EPS) are projected to be $0.81, reflecting a 1.22% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $30.41 billion, down 0.48% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.94 per share and revenue of $120.73 billion, which would represent changes of +8.24% and -0.58%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Comcast. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.31% higher. Currently, Comcast is carrying a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Comcast has a Forward P/E ratio of 11.21 right now. Its industry sports an average Forward P/E of 13.14, so one might conclude that Comcast is trading at a discount comparatively.
One should further note that CMCSA currently holds a PEG ratio of 1.08. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Cable Television industry was having an average PEG ratio of 1.08.
The Cable Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 200, positioning it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.