Market Update: Comcast Corporation (NASDAQ:CMCSA) – Netflix gloves come off against Comcast-Time Warner Cable merger

Comcast Corporation (NASDAQ:CMCSA) [Reuters] – Video streaming service Netflix on Monday became the most visible company with a business relationship with Comcast to oppose the No. 1 cable operator’s $45.3 billion merger with Time Warner Cable. “It’s more in the public interest to either not have them merge or if the government goes ahead with it, to at least put some significant merger agreements, settlements in there,” Netflix Chief Executive Officer Reed Hastings said in a webcast following the company’s quarterly results. Netflix added in a quarterly letter to shareholders that Comcast would control access to broadband in a majority of U.S. homes while also having “anticompetitive leverage” to charge arbitrary fees on companies that rely on its Internet service. Until now, the only vocal advocates calling for an outright rejection of Comcast-Time Warner Cable merger had been public interest and consumer groups such as Public Knowledge and the Consumers Union, as well as Senator Al Franken, a Minnesota Democrat who has often opposed media concentration.
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Comcast Corporation (CMCSA), with a current market cap of $130.01B, opened at $49.39.
 
Looking at today’s market, CMCSA one day range is $49.32 to $49.89 and has traded between $38.75 and $55.28 over the past year.
 
CMCSA shares are currently priced at 17.17x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 44.97x forward p/e ratio.
 
The company pays shareholders $0.90 per share annually in dividends, yielding 1.80%.
 
According to a consensus of 23 analysts, the earnings estimate of $0.64 per share would be $0.13 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $2.86 which would be a $0.39 improvement than last year’s full-year earnings.
 
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $17.03 Billion. If realized, that would be a 11.23% increase over the year-ago quarter.
 
In terms of ratings, Pacific Crest upgraded CMCSA from Sector Perform to Outperform (Feb 24, 2014). Previously, Northland Capital Initiated CMCSA at to Outperform.
 
The average price target for CMCSA shares by the analysts covering it is $60.10, which is 21.68% above where the stock opened.
 
Summary (NASDAQ:CMCSA) :  Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice services to residential and business customers under the XFINITY brand name. This segment also provides business services, such as cellular backhaul services to mobile network operators; Ethernet network services; and online advertising services. The Cable Networks segment operates national cable networks, which provide entertainment, news and information, and sports content; regional sports and news networks; international channels; and cable television production operations, as well as owns digital media properties. The Broadcast Television segment operates NBC and Telemundo broadcast networks, NBC and Telemundo owned local broadcast television stations, and broadcast television production operations, as well as owns digital media properties. The Filmed Entertainment segment produces, acquires, markets, and distributes live-action and animated filmed entertainment under the Universal Pictures, Focus Features, and Illumination names. This segment also develops, produces, and licenses stage plays, as well as owns digital media properties. The Theme Parks segment operates theme parks; studios; Island of adventures; and a dining, retail, and entertainment complex. Comcast Corporation was founded in 1963 and is headquartered in Philadelphia, Pennsylvania.
 
Tag Helper ~ Stock Code: CMCSA | Common Company name: Comcast | Full Company name: Comcast Corporation (NASDAQ:CMCSA) .

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Netflix Isn’t Helping
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