Comcast (CMCSA) Stock Rallies on Strong Q3 Results, Analyst Expects Shares to Outperform
- Stocks tumble on new coronavirus variant fear
- Moderna (MRNA) Shares Rally 11% on 'Nu' Concerns, Analyst Sees mRNA Technology Adapting Much Quicker to New COVID Variant
- DiDi (DIDI) Stock Falls on Report China Seeks Delisting From US Amid Data Security Concerns
- Apple (AAPL) on Pace to Sell Over 10 Million iPhones for Black Friday - Wedbush
- Buy Tech Winners on Variant Fears - Wedbush
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 'Rack Gets Racked': Nordstrom (JWN) Shares Crash 27% After Disappointing Results, Jefferies Downgrades to Hold
- Global Cord Blood Corporation (CO) Reports Q2 Net Income of $19.5M
- Nutanix (NTNX) Stock is Rallying Following Q3 Earnings, Analyst Says Shares Still Looks Undervalued
Create E-mail Alert Related CategoriesAnalyst Comments, Earnings
Related EntitiesGoldman Sachs, Earnings, Pre Market Movers
Sign 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!