Comcast Stock Dips on Revenue Miss, Q2 Warning

The company warned that its theme parks, films, and ad revenue could see even more weakness

Deputy Editor
Apr 30, 2020 at 12:53 PM
facebook X logo linkedin

Comcast Corporation (NASDAQ: CMCSA) announced first-quarter profits of 71 cents per share, higher than Wall Street's estimated 68 cents per share. However, the reported revenue of $26.66 billion came in lower than analysts' estimated $26.75 billion. The company also warned that the coronavirus could weigh on films, theme parks and advertising in the second quarter. At last check, CMCSA is down 4.2% to trade at $37.38. 

CMCSA is struggling to rebound off its March 23, annual low of $31.70. The stock was recently turned away by the 60-day moving average, with the $39 level also acting as a ceiling on the charts. While the security is eyeing a 8% monthly pop, the equity is still down 17.2% year-to-date. 

While today's report hasn't sparked much analyst chatter, the majority of the brokerage bunch is quite bullish, with 12 out of 18 sporting a "buy" or better rating, and the remaining six giving CMCSA a tepid "hold." Meanwhile, the 12-month consensus price target of $45.39 is a 22.7% premium to current levels. 

The options pits have been surprisingly optimistic as well. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 6.49 calls were bought for every put in the past 10 days. This ratio sits in the 91st percentile of its annual range, suggesting the appetite for calls is much higher than usual. 




How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.