Yahoo Finance Comcast (CMCSA) Outpaces Stock Market Gains: What You Should Know
Comcast (CMCSA) closed at $36.40 in the latest trading session, marking a +1.34% move from the prior day. This move outpaced the S&P 500's daily gain of 0.17%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq added 0.67%.
Heading into today, shares of the cable provider had lost 2.92% over the past month, lagging the Consumer Discretionary sector's loss of 2.74% and the S&P 500's gain of 0.25% in that time.
Wall Street will be looking for positivity from Comcast as it approaches its next earnings report date. This is expected to be April 27, 2023. On that day, Comcast is projected to report earnings of $0.83 per share, which would represent a year-over-year decline of 3.49%. Meanwhile, our latest consensus estimate is calling for revenue of $29.92 billion, down 3.51% from the prior-year quarter.
CMCSA's full-year Zacks Consensus Estimates are calling for earnings of $3.64 per share and revenue of $120.29 billion. These results would represent year-over-year changes of 0% and -0.94%, respectively.
Investors should also note any recent changes to analyst estimates for Comcast. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.77% lower within the past month. Comcast is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Comcast has a Forward P/E ratio of 9.88 right now. This represents a discount compared to its industry's average Forward P/E of 11.75.
Also, we should mention that CMCSA has a PEG ratio of 0.78. 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. CMCSA's industry had an average PEG ratio of 0.78 as of yesterday's close.
The Cable Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% 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.
To follow CMCSA in the coming trading sessions, be sure to utilize Zacks.com.
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Comcast Corporation (CMCSA) : Free Stock Analysis Report
