Revenue from its Broadcast Television segment increased 11.3% to $2 billion compared to $1.8 billion in the third quarter of 2014, reflecting a 33.5% increase in content licensing revenue, higher retransmission consent fees and a 2.8% increase in advertising revenue. CMCSA’s profit will be $2.01 billion for 19.37 P/E if the $0.80 EPS becomes reality.
Advertisement
On a per-share basis, the Philadelphia-based company said it had net income of 80 cents. Analysts expect the company to announce earnings of $0.79 per share and revenue of $17.94 billion for the quarter. The firm’s 50-day moving average is $58.38 and its 200-day moving average is $59.22.
Mediatel Partners holds 84.05% of its portfolio in Comcast Corporation for 2.91 million shares. Also, CAO Lawrence J. Salva sold 4,524 shares of Comcast stock in a transaction on Wednesday, September 16th.
Out of 8 analysts covering Comcast Corporation (NASDAQ:CMCSA), 6 rate it “Buy”, 0 “Sell”, while 2 “Hold”. The total value of the transaction was worth $260,130.
The board “believes that the reclassification will benefit Comcast’s shareholders by, among other things, eliminating investor confusion caused by having two classes of publicly traded stock and improving the trading liquidity of Comcast’s publicly traded stock”, the company said in a statement.
For the parent company entertainment takes second place to its cable operations where cash flow was up 6.4% to $4.75 billion on revenues of $11.74 billion, up 6.3%. The stock increased 0.45% or $0.28 on October 23, hitting $61.98.
Cowen reiterated an Outperform rating and a $62 price target. The 52-week high of the share price is $64.99 and the 52-week low is $50.01. Cohen David L sold 63,066 shares worth $3.53 million. The business line of the Company comprises Broadcast Television: Cable Communications; Cable Networks; five sections; Filmed Entertainment, and Theme Parks.
Advertisement
A key driver of the cable provider’s revenue boost came from an increase in high-speed Internet and business services. Cable Networks consists primarily of its national cable television networks, its regional sports and news networks, its worldwide cable networks, its cable television production studio, and its related digital media properties. Broadcast Television consists primarily of its NBC and Telemundo broadcast networks. Theme Parks consists primarily of its Universal theme parks in Orlando and Hollywood.
