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Comcast (CMCSA) Stock Sinks As Market Gains: Here's Why

The most recent trading session ended with Comcast (CMCSA) standing at $37.29, reflecting a -0.4% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.77%. Elsewhere, the Dow gained 0.49%, while the tech-heavy Nasdaq added 0.95%.

The cable provider's shares have seen a decrease of 4.66% over the last month, not keeping up with the Consumer Discretionary sector's loss of 1.38% and the S&P 500's gain of 3.71%.

The upcoming earnings release of Comcast will be of great interest to investors. The company's earnings report is expected on July 23, 2024. The company's earnings per share (EPS) are projected to be $1.12, reflecting a 0.88% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $30.1 billion, indicating a 1.34% decline compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.21 per share and a revenue of $123.16 billion, representing changes of +5.78% and +1.31%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for Comcast. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Comcast boasts a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Comcast has a Forward P/E ratio of 8.89 right now. This represents no noticeable deviation compared to its industry's average Forward P/E of 8.89.

Investors should also note that CMCSA has a PEG ratio of 0.94 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Cable Television industry currently had an average PEG ratio of 0.94 as of yesterday's close.

The Cable Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 188, positioning it in the bottom 26% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Comcast Corporation (CMCSA) : Free Stock Analysis Report

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