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Comcast (CMCSA) Falls More Steeply Than Broader Market: What Investors Need to Know
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Comcast (CMCSA - Free Report) closed the most recent trading day at $40.59, moving -1.84% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq added 0.04%.
The cable provider's stock has climbed by 2.76% in the past month, falling short of the Consumer Discretionary sector's gain of 3.53% and outpacing the S&P 500's gain of 1.95%.
Market participants will be closely following the financial results of Comcast in its upcoming release. The company plans to announce its earnings on October 31, 2024. In that report, analysts expect Comcast to post earnings of $1.06 per share. This would mark a year-over-year decline of 1.85%. Meanwhile, our latest consensus estimate is calling for revenue of $31.68 billion, up 5.2% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.23 per share and revenue of $123 billion, indicating changes of +6.28% and +1.18%, respectively, compared to the previous year.
Investors might also notice recent changes 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 company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Comcast is currently a Zacks Rank #4 (Sell).
In the context of valuation, Comcast is at present trading with a Forward P/E ratio of 9.77. This valuation marks a discount compared to its industry's average Forward P/E of 10.59.
It is also worth noting that CMCSA currently has a PEG ratio of 1.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Cable Television industry was having an average PEG ratio of 0.84.
The Cable Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 42, positioning it in the top 17% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Comcast (CMCSA) Falls More Steeply Than Broader Market: What Investors Need to Know
Comcast (CMCSA - Free Report) closed the most recent trading day at $40.59, moving -1.84% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq added 0.04%.
The cable provider's stock has climbed by 2.76% in the past month, falling short of the Consumer Discretionary sector's gain of 3.53% and outpacing the S&P 500's gain of 1.95%.
Market participants will be closely following the financial results of Comcast in its upcoming release. The company plans to announce its earnings on October 31, 2024. In that report, analysts expect Comcast to post earnings of $1.06 per share. This would mark a year-over-year decline of 1.85%. Meanwhile, our latest consensus estimate is calling for revenue of $31.68 billion, up 5.2% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.23 per share and revenue of $123 billion, indicating changes of +6.28% and +1.18%, respectively, compared to the previous year.
Investors might also notice recent changes 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 company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.03% downward. Comcast is currently a Zacks Rank #4 (Sell).
In the context of valuation, Comcast is at present trading with a Forward P/E ratio of 9.77. This valuation marks a discount compared to its industry's average Forward P/E of 10.59.
It is also worth noting that CMCSA currently has a PEG ratio of 1.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Cable Television industry was having an average PEG ratio of 0.84.
The Cable Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 42, positioning it in the top 17% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.