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Comcast Corporation (CMCSA) is scheduled to report its Q2 2012 results on August 1, 2012, before market opens. The street expects EPS and revenue of $0.48 and $15.20B, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from CMCSA and the news from its closest competitors.

Comcast Corporation Revenue and Net Income History

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last two quarters. In the last quarter it reported $0.45 EPS, beating analyst estimates of $0.42.

Comcast Corporation EPS Historical Results vs Estimates

The consensus EPS estimate is $0.48 based on 24 analysts' estimates, up from $0.42 a year ago. Revenue estimates are $15.20B, up from $14.33B a year ago. The median target price by analysts for the stock is $35.00.

Average recommendation: Overweight

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On February 16, 2012, UBS reiterated Buy rating for the company.
  • On February 15, 2012, Argus downgraded the company from Buy to Hold.

Latest News

  • On July 16, 2012, Reuters reported that Comcast Corp., the parent company of NBC, has bought out Microsoft Corp's 50% stake in MSNBC.com for about $300 million to assume full control of the news web site.
  • On July 9, 2012, The Wall Street Journal reported that Comcast Corp. is near a deal to sell its 15.8% stake in A&E Television Networks to joint venture partners The Walt Disney Company and Hearst Corp for about $3 billion, according to two people familiar with the matter.
  • On June 21, 2012, Longview, Texas-based InNova Patent Licensing LLC has filed patent infringement lawsuits against 24 tech companies accused of infringing an InNova patent used in e-mail spam technology.
  • On June 19, 2012, Comcast Corp. announced that Des Plaines, Ill.-based Nu-Way Industries, is in design and fabrication of precision metal products, replaced its legacy PBX system with Comcast Business VoiceEdge, a cloud-based voice and unified communications (UC) solution.
  • On February 15, 2012, Comcast Corp. announced that it increased its dividend by 44% to $0.65 per share on an annualized basis. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of $0.1625 a share on the Company's common stock, payable on April 25, 2012 to shareholders of record as of the close of business on April 4, 2012.

Competitors

Charter Communications (CHTR), Cablevision Systems Corporation (CVC), Dish Network (DISH), DIRECTV (DTV), and Time Warner Cable (TWC) are competitors for Comcast and the table below provides the key metrics for these companies and the industry.

Comcast Corporation key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies for the last one year period.

CMCSA Chart

CMCSA data by YCharts

Competitors' Latest Development

  • On June 20, 2012, Time Warner Cable Inc announced that it has commenced an underwritten public offering of sterling denominated notes with a 30 year maturity. The net proceeds from the issuance of the notes are expected to be used for general corporate purposes, which may include the repayment of debt.
  • On June 20, 2012, Time Warner Cable Inc announced that it has priced an underwritten public offering of GBP650 million aggregate principal amount of 5.250% notes due 2042.
  • On May 18, 2012, Time Warner Cable Inc announced that its Board of Directors declared a quarterly dividend of $0.56 per share on the Company's Common Stock, payable in cash on June 15, 2012 to stockholders of record at the close of business on May 31, 2012.
  • On May 17, 2012, Reuters reported that Viacom, Inc., the parent of MTV and Comedy Central, has settled lawsuits with Time Warner Cable Inc over whether cable subscribers may watch shows on mobile devices such as Apple Inc's iPad.
  • On May 7, 2012, Cablevision Systems Corp announced that it has revised the record date for the next quarterly dividend of $0.15 per share payable on each outstanding share of both its NY Group Class A Stock and its NY Group Class B Stock from May 11, 2012 to May 17, 2012.
  • On May 3, 2012, Cablevision Systems Corp announced that it declared a quarterly dividend of $0.15 per share on each outstanding share of both its Cablevision NY Group Class A Stock and its Cablevision NY Group Class B Stock.
  • On April 26, 2012, Time Warner Cable Inc announced that it expect fiscal 2012 diluted EPS including Insight will now be in the upper end of the $5.25 to $5.50 range that it provided in on the fourth-quarter earnings call.
  • On February 22, 2012, Cablevision Systems Corp announced that its Board of Directors has declared a quarterly dividend of $0.15 per share on each outstanding share of both its NY Group Class A Stock and its NY Group Class B Stock.
  • On February 18, 2012, MSG Media announced that it has reached a tentative agreement with Time Warner Cable Inc for carriage of networks - MSG, MSG+ and Fuse, effective immediately, including tonight's match-up between the New York Knicks and the New Orleans Hornets, as well as the Devils and Sabres games.
  • On February 6, 2012, Izard Nobel LLP announced that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of New York on behalf of purchasers of the common stock of Cablevision Systems Corporation ("Cablevision" or the "Company") between February 16, 2011 and October 28, 2011, inclusive (the "Class Period").
  • On February 4, 2012, Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in United States District Court for the Eastern District of New York on behalf of purchasers of Cablevision Systems Inc., common stock who purchased shares between February 16, 2011 and October 28, 2011, inclusive (the Class Period).
  • On February 2, 2012, Dyer & Berens LLP announced that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of purchasers of the common stock of Cablevision Systems Corporation (Cablevision) between February 16, 2011 and October 28, 2011, inclusive (the Class Period).
  • On February 1, 2012, Robbins Umeda LLP announced that it is investigating possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Cablevision Systems Corporation.
  • On January 30, 2012, Holzer Holzer & Fistel, LLC announced that it has filed a class action lawsuit in the United States District Court for the Eastern District of New York on behalf of purchasers of Cablevision Systems Corp common stock who purchased shares between February 16, 2011 and October 28, 2011, inclusive (Class Period).
  • On January 28, 2012, Faruqi & Faruqi, LLP announced that it is investigating potential securities fraud at Cablevision Systems Corp. ("Cablevision" or the "Company"). The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: Cablevision was experiencing higher retention and advertising costs than the Company depicted; and Cablevision was losing more video customers than expected, especially in the New York area - the Company's main service area - due to strengthening competition.

Technical Overview


The stock has a market capitalization of $85.23B and is currently trading at $31.61 with a 52 week range of $19.19 - $32.78. The stock's year-to-date performance has been 34.74%. It is currently trading above 50 and 200 SMA, but below 20 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Comcast Reports Q2 Earnings On August 1