Comcast Corporations (CMCSA) adjusted quarterly earnings, reported on Wednesday, outstripped market expectations, supported by high-speed Internet customer growth and stronger theme park revenue. On the other hand, the company lost video subscribers during the past quarter.
Comcast shares closed higher for the fourth time in the past five trading sessions on Wednesday. The stock went up 1.30% ($0.55) to $42.99, after touching an intraday high at $43.70, or a price level not seen since May 5th 1999 ($48.92).
In the week ended on January 21st the shares of the media giant added 0.14% to their market value compared to a week ago, which marked a third consecutive period of gains. Yet, it has been the smallest weekly increase in at least 1 year.
The stock has extended its advance to 7.34% so far during the current month, following a 6.69% surge in December. The latter has been a second consecutive monthly gain and also the largest one since January 2017.
For the entire past year, the shares of the NASDAQ-listed company rose 16.02% following another 22.36% surge in 2016.
Comcasts total revenue rose 4.2% to $21.92 billion during the quarter ended on December 31st compared to the same period a year ago. In comparison, analysts on average had expected $21.82 billion in revenue.
Revenue at Comcasts cable business, which encompasses video, Internet and voice services, went up 3.4% year-on-year during the latest quarter, while revenue at Comcasts subsidiary, NBCUniversal, went up 3.9% year-on-year, supported by a strong performance of its theme park business.
Net income attributable to shareholders surged to $15.0 billion ($3.17 per share) during the quarter ended on December 31st from $2.3 billion ($0.48 per share) in the year-ago quarter.
Comcasts earnings per share, excluding the influence of a $12.7 billion one-time benefit from the recently-passed US tax system reform, were reported at $0.49 per share during the past quarter. In comparison, the median analyst estimate had pointed to adjusted earnings of $0.47 per share.
Meanwhile, 350 000 high-speed Internet customers were added during the recent quarter following 385 000 new customers added during the same three-month period a year ago.
However, 33 000 video subscribers were reportedly lost during the latest quarter following the addition of 80 000 subscribers in the year-ago period.
Comcast also boosted its quarterly dividend by at least 20% to $0.19 per share.
According to CNN Money, the 30 analysts, offering 12-month forecasts regarding Comcast Corporation’s stock price, have a median target of $45.00, with a high estimate of $51.00 and a low estimate of $40.00. The median estimate is a 4.68% surge compared to the closing price of $42.99 on January 24th.
The same media also reported that 27 out of 33 surveyed investment analysts had rated Comcast Corporation’s stock as “Buy”, while 2 – as “Hold”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Comcast stock are presented as follows:
R1 – $43.18
R2 – $43.38
R3 (Range Resistance – Sell) – $43.57
R4 (Long Breakout) – $44.15
R5 (Breakout Target 1) – $44.82
R6 (Breakout Target 2) – $45.16
S1 – $42.80
S2 – $42.61
S3 (Range Support – Buy) – $42.41
S4 (Short Breakout) – $41.84
S5 (Breakout Target 1) – $41.16
S6 (Breakout Target 2) – $40.82
By using the traditional method of calculation, the weekly levels of importance for Comcast Corporation (CMCSA) are presented as follows:
Central Pivot Point – $42.03
R1 – $43.06
R2 – $43.61
R3 – $44.64
R4 – $45.66
S1 – $41.48
S2 – $40.45
S3 – $39.90
S4 – $39.34
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