2024-07-01 11:36:51 ET
Summary
- Comcast shares have underperformed due to streaming wars and box office struggles, down 11% in 2024.
- Despite challenges, Comcast remains a value buy with low earnings multiple, high yield, and expected earnings growth.
- Analysts project a 2% EPS increase this year with potential for $5 EPS by 2026, making Comcast a compelling value idea.
- I outline key price levels to monitor ahead of earnings due out in July.
It has been a challenging backdrop for traditional media companies in 2024. With ongoing streaming wars in the at-home entertainment space and very soft ticket sales at the box office, shares of Comcast (CMCSA) have sharply underperformed both the Communications Services sector and the broader S&P 500 so far this year. The $154 billion market cap stock is down 11% through the first half – CMCSA was even down in 12 straight sessions during June. Is too much negativity baked in, though? ...
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Comcast: Earnings About To Show Off, Reliable FCF, Momentum Challenges