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Why the Market Dipped But Comcast (CMCSA) Gained Today
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Comcast (CMCSA - Free Report) closed at $30.32 in the latest trading session, marking a +1.98% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.16%. Meanwhile, the Dow experienced a drop of 0.47%, and the technology-dominated Nasdaq saw a decrease of 1.81%.
Coming into today, shares of the cable provider had gained 8.66% in the past month. In that same time, the Consumer Discretionary sector gained 1.09%, while the S&P 500 gained 1.03%.
Market participants will be closely following the financial results of Comcast in its upcoming release. The company is expected to report EPS of $0.75, down 21.88% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $32.24 billion, reflecting a 1.03% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.18 per share and a revenue of $123.64 billion, indicating changes of -3.46% and -0.07%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Comcast. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. Right now, Comcast possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Comcast is currently trading at a Forward P/E ratio of 7.11. This denotes a premium relative to the industry average Forward P/E of 6.43.
We can also see that CMCSA currently has a PEG ratio of 2.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Cable Television industry stood at 0.7 at the close of the market yesterday.
The Cable Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Why the Market Dipped But Comcast (CMCSA) Gained Today
Comcast (CMCSA - Free Report) closed at $30.32 in the latest trading session, marking a +1.98% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.16%. Meanwhile, the Dow experienced a drop of 0.47%, and the technology-dominated Nasdaq saw a decrease of 1.81%.
Coming into today, shares of the cable provider had gained 8.66% in the past month. In that same time, the Consumer Discretionary sector gained 1.09%, while the S&P 500 gained 1.03%.
Market participants will be closely following the financial results of Comcast in its upcoming release. The company is expected to report EPS of $0.75, down 21.88% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $32.24 billion, reflecting a 1.03% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.18 per share and a revenue of $123.64 billion, indicating changes of -3.46% and -0.07%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Comcast. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. Right now, Comcast possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Comcast is currently trading at a Forward P/E ratio of 7.11. This denotes a premium relative to the industry average Forward P/E of 6.43.
We can also see that CMCSA currently has a PEG ratio of 2.04. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Cable Television industry stood at 0.7 at the close of the market yesterday.
The Cable Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 201, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.