Red-Hot Comcast Stock Keeps Climbing

Comcast stock is up nearly 16% in 2021

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When we last checked in with Comcast Corporation (NASDAQ:CMCSA) the media stock was fresh off a new record high. A little more than a month later, CMCSA has turned in another record peak of $60.72, a far cry from its Nov. 2 annual bottom of $40.96. 

Comcast stock has now racked up a 15.8% year-to-date lead, and is up 35.4% in the last 12 months. Along the way, pullbacks have been contained by the shares' ascending 80 and 100-day moving averages. Comcast Corporation offers a forward dividend of $1.00 and a dividend yield of 1.68%.

CMCSA Stock Chart

Unfortunately for contrarian traders, there isn't much pessimism leftover to be unwound. The majority of analysts rate CMCSA a "buy" or better, while a slim 1.5% of the stock's total available float is sold short.

From a fundamental perspective, Comcast stock remains a decent value stock, even at its current highs. CMCSA trades at a price-earnings ratio of 22.27, which is promising given its huge market cap of $274 billion. Comcast Corporation’s sheer size implies that there is a strong level of security and opportunity potential. In addition, Comcast stock has a forward price-earnings of 21.28, signifying that a slight improvement in earnings is expected. Overall, although Comcast stock may retreat from its highs at some point, allowing for a better buying opportunity, it likely won’t make much of a difference in the long-term.

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