Comcast (CMCSA) Stock Rallies on Strong Q3 Results, Analyst Expects Shares to Outperform

October 28, 2021 9:07 AM EDT
Get Alerts CMCSA Hot Sheet
Price: $50.99 -1.72%

Rating Summary:
    34 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 5
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Shares of Comcast (NASDAQ: CMCSA) are up 6.5% in pre-open Thursday after the company reported better-than-expected Q3 results.

Comcast said it recorded EPS of $0.87 to beat the analyst estimate of $0.75. Revenue for the quarter came in at $30.3 billion versus the consensus estimate of $29.77 billion. The company also declared a quarterly dividend of $0.25 a share.

"I am pleased with our strong operating and financial results this quarter. Each of our businesses posted significant growth in Adjusted EBITDA, contributing to a double-digit increase in our Adjusted EPS,” Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said.

Goldman Sachs analyst Brett Feldman reiterated a Buy rating and a $63.00 per share price target on CMCSA after seeing “solid results across the board.”

“Based on recent underperformance in the stock, we expect a positive initial reaction to CMCSA’s strong 3Q21 results. We also believe the strength of CMCSA’s cable fundamentals is a positive read across for CHTR, which reports pre-market tomorrow (10/29),” the analyst said in a note.

Shares closed at $52.44 yesterday.



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