Nomura Securities Maintains a 'Buy' on Comcast Corp (CMCSA); Q4 Review
Tweet
Share
E-mailGet Alerts CMCSA Hot Sheet
Price: $26.18 --0%
Rating Summary:
24 Buy, 25 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 25 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities maintains a 'Buy' on Comcast Corp (NASDAQ: CMCSA) price target of $32.00.
Analyst, Mike McCormack, said, "Comcast again exhibited solid execution in its core cable business. Revenue and EBITDA per home passed metrics showed improvement, and there was a strong positive inflection in video subscriber trends. We believe expectations will transition to the possibility of positive video subscribers, which we believe is possible, but FCF should be the focus. Comcast’s video subscriber additions exhibited a sharply positive change in trend in 4Q11. We have raised our net add target for 2012, and now target subscriber gains in 1Q12. We believe Comcast is on track to return ~95% of cable only free cash flow in 2012. We remain concerned about the timing of a turn-around of the broadcast property, but are encouraged by the recent ratings datapoints. Our 2012 EBITDA estimates are mostly unchanged, but our estimate for Comcast-owned fully taxed FCF/share is $2.16, compared with $2.27 previously. Our lowered estimate reflects a $550mn increase in our capitalized software estimate, partially offset by more share buyback. Our 2011/12 EPS estimates change to $1.57/$1.88, from $1.53/$1.90, respectively."
For an analyst ratings summary and ratings history on Comcast Corp click here. For more ratings news on Comcast Corp click here.
Shares of Comcast Corp closed at $28.52 yesterday.
Analyst, Mike McCormack, said, "Comcast again exhibited solid execution in its core cable business. Revenue and EBITDA per home passed metrics showed improvement, and there was a strong positive inflection in video subscriber trends. We believe expectations will transition to the possibility of positive video subscribers, which we believe is possible, but FCF should be the focus. Comcast’s video subscriber additions exhibited a sharply positive change in trend in 4Q11. We have raised our net add target for 2012, and now target subscriber gains in 1Q12. We believe Comcast is on track to return ~95% of cable only free cash flow in 2012. We remain concerned about the timing of a turn-around of the broadcast property, but are encouraged by the recent ratings datapoints. Our 2012 EBITDA estimates are mostly unchanged, but our estimate for Comcast-owned fully taxed FCF/share is $2.16, compared with $2.27 previously. Our lowered estimate reflects a $550mn increase in our capitalized software estimate, partially offset by more share buyback. Our 2011/12 EPS estimates change to $1.57/$1.88, from $1.53/$1.90, respectively."
For an analyst ratings summary and ratings history on Comcast Corp click here. For more ratings news on Comcast Corp click here.
Shares of Comcast Corp closed at $28.52 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
- BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Nomura, Stock BuybackSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
