Comcast Corporation (previously known as American Cable Systems and Comcast Holdings) is the largest American global telecommunications and media corporation, based in Philadelphia. The corporation is the world’s second-biggest broadcasting and cable television company by revenue (behind AT&T), as well as the largest pay-TV company, cable TV company, and home Internet service provider in the United States. Comcast is also the third-largest provider of home telephone service in the United States. It serves residential and business clients in 40 states and the District of Columbia in the United States. Comcast, which has owned the multinational media business NBCUniversal since 2011, is also a large producer of feature films for theatrical release as well as over-the-air and cable television programs.
Comcast Corporation is a telecommunications giant headquartered in Pennsylvania, USA. Comcast Corp, founded in 1963, was the third-largest media corporation in the world in 2020, with a $210 billion market cap. Comcast stock is traded on the Nasdaq under the symbol CMCSA. CMCSA equities are included in various market indexes, including the NASDAQ 100, S&P 100, and S&P 500.
The company’s operations are divided into six divisions: cable communications, cable networks, filmed entertainment, broadcast television, amusement parks, and the Sky Group. As of 2020, Sky is one of Europe’s top media and entertainment organizations. Comcast owns Universal Studios, one of Hollywood’s “Big Six” film studios, as well as Universal Parks & Resorts through its wholly-owned subsidiary NBC Universal.
Xfinity Mobile, a mobile virtual network operator (MVNO) of Verizon, the leading consumer cellular business in the United States, is owned by the firm. Comcast also owns numerous significant national television broadcasting organizations, such as NBC, Cozi TV, and Telemundo, as well as television networks such as CNBC, MSNBC, USA Network, and NBCSN. Its subsidiaries include leading animation studios such as DreamWorks Animation, Universal Animation Studios, and Illumination.
Comcast Corporation joined with AT&T networks in a $72 billion deal in 2001. Its most recent acquisition occurred in 2020, when it paid an unknown sum for Xumo, a free online streaming service. Comcast invested $650 million to enhance digital literacy because education was one of the worst-affected areas during the 2019 pandemic.
Price:
Comcast Corporation has lagged behind the media industry in earnings growth. Its earnings have fallen by -17% on average per year, while the industry average has increased by 8.7%. Its revenue has been increasing at a rate of 5.8% every year, which is a healthy sign. With a return on equity of 7.3% and net margins of 5.4%, Comcast Corporation’s stock is profitable.
According to Simply Wall St., Comcast stock has a high debt-to-equity ratio of 120.9%, which raises its financial risk. It has a huge balance sheet because its assets and liabilities are $262.1 billion and $177.2 billion, respectively.
CMCSA stock has a market capitalization of $188.556 billion and a total revenue of $121.427 billion. Furthermore, the stock has a basic EPS of $1.60 and a price-to-earnings ratio of 28.76. Furthermore, the average volume is 18.617 Million, whereas the current volume is 20.669 Million, indicating that the current volume is greater than the average volume.
Furthermore, the CMCSA stock has performed well this month, increasing by 9.30%, and has climbed by 12.57% in the last six months. Accenture PLC’s (NASDAQ: CMCSA) stock has a year-to-date performance of 29.45% and a one-year return of 15.71%.
Analysis:
Comcast Corporation’s (NASDAQ: CMCSA) stock price has been on an upward trend for the last three months, gaining by 12.96%. At the time of writing, CMCSA was trading at $45.23, with several supports on the trendline and higher highs and lower lows.
As a result, if the present level is maintained, the CMCSA price might continue to rise and hit the first and second targets of $46.45 and $48.43, respectively. If the CMCSA price fails to maintain its present level and falls, it may test the nearest support levels of $41.77 and $39.93.
On the Daily chart,
- The Moving Averages Convergence Divergence (MACD) indicator for Comcast (CMCSA) is 0.97, indicating that Comcast is a Sell.
- Comcast’s (CMCSA) 20-Day exponential moving average is 42.77, and the stock price is $45.26, indicating a Buy.
- Comcast (CMCSA) has a 50-day exponential moving average of 41.39 and a share price of $45.26, making it a Buy.
On the Weekly Chart:
- The Moving Averages Convergence Divergence (MACD) indicator for Comcast (CMCSA) is 1.74, indicating that Comcast is a Sell.
- Comcast’s (CMCSA) 20-Day exponential moving average is 40.20, while the stock price is $45.26, indicating a Buy.
- Comcast’s (CMCSA) 50-Day exponential moving average is 39.12, and the stock price is $45.26, indicating a Buy.
Indicators:
- The Relative Strength Index (RSI) for Comcast (CMCSA) is 68.85, indicating a Neutral signal.
- The Trend Strength Indicator (ADX) for Comcast (CMCSA) is 29.90, indicating a Neutral signal.
- The Commodity Channel Index (CCI) for Comcast (CMCSA) is 178.99, indicating a Sell signal.
- The Price Rate of Change (ROC) for Comcast (CMCSA) is 19.09, indicating a Buy signal.
Comcast Corporation is trading above the 20, 50, 100, and 200-day EMAs (exponential moving averages), indicating that the stock price trend is positive. As a result, the Comcast price is predicted to rise, indicating positive views on the daily time frame chart.
Prediction:
10 (55.56%) analysts suggest CMCSA as a Strong Buy, 3 (16.67%) recommend CMCSA as a Buy, 5 (27.78%) recommend CMCSA as a Hold, 0 (0%) recommend CMCSA as a Sell, and 0 (0%) recommend CMCSA as a Strong Sell.
The average CMCSA price objective among 18 Wall Street analysts who have set a 1-year CMCSA price target is $47.89, with the highest CMCSA stock price projection at $55.00 and the lowest CMCSA stock price forecast at $38.00.
Wall Street analysts estimate that Comcast’s stock price will reach $47.89 by July 28, 2024. The average Comcast stock price projection predicts a potential 5.88% increase from the present CMCSA share price of $45.23.
Summary
Comcast Corporation (NASDAQ: CMCSA) demonstrates that the stock’s investors and traders are positive in the 1-D time frame. At the time of publication, the price action showed a bullish view. The CMCSA stock price’s technical metrics also support the bullish trend. The main indicators, MACD, RSI, and EMA, are all displaying positive signals, implying that the rally in the CMCSA stock price may continue.
Levels of Technology
Levels of support: The nearest levels of support are $41.77 and $39.93.
Levels of resistance: The nearest resistance levels are $46.45 and $48.43.
