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Comcast (CMCSA) Stock Moves -0.41%: What You Should Know
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In the latest trading session, Comcast (CMCSA - Free Report) closed at $43.67, marking a -0.41% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.57%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Heading into today, shares of the cable provider had gained 1.79% over the past month, lagging the Consumer Discretionary sector's gain of 3.69% and the S&P 500's gain of 4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Comcast in its upcoming earnings disclosure. The company's earnings report is set to go public on January 25, 2024. On that day, Comcast is projected to report earnings of $0.81 per share, which would represent a year-over-year decline of 1.22%. Alongside, our most recent consensus estimate is anticipating revenue of $30.42 billion, indicating a 0.44% downward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Comcast. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.28% higher within the past month. Comcast currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Comcast is currently exchanging hands at a Forward P/E ratio of 10.17. For comparison, its industry has an average Forward P/E of 10.75, which means Comcast is trading at a discount to the group.
One should further note that CMCSA currently holds a PEG ratio of 0.98. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Cable Television stocks are, on average, holding a PEG ratio of 0.98 based on yesterday's closing prices.
The Cable Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 243, finds itself in the bottom 4% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMCSA in the coming trading sessions, be sure to utilize Zacks.com.
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Comcast (CMCSA) Stock Moves -0.41%: What You Should Know
In the latest trading session, Comcast (CMCSA - Free Report) closed at $43.67, marking a -0.41% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.57%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, lost 1.64%.
Heading into today, shares of the cable provider had gained 1.79% over the past month, lagging the Consumer Discretionary sector's gain of 3.69% and the S&P 500's gain of 4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Comcast in its upcoming earnings disclosure. The company's earnings report is set to go public on January 25, 2024. On that day, Comcast is projected to report earnings of $0.81 per share, which would represent a year-over-year decline of 1.22%. Alongside, our most recent consensus estimate is anticipating revenue of $30.42 billion, indicating a 0.44% downward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Comcast. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.28% higher within the past month. Comcast currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Comcast is currently exchanging hands at a Forward P/E ratio of 10.17. For comparison, its industry has an average Forward P/E of 10.75, which means Comcast is trading at a discount to the group.
One should further note that CMCSA currently holds a PEG ratio of 0.98. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Cable Television stocks are, on average, holding a PEG ratio of 0.98 based on yesterday's closing prices.
The Cable Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 243, finds itself in the bottom 4% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CMCSA in the coming trading sessions, be sure to utilize Zacks.com.