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Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Let's take a look at what these Wall Street heavyweights have to say about Comcast (CMCSA) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Comcast currently has an average brokerage recommendation (ABR) of 1.98, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 29 brokerage firms. An ABR of 1.98 approximates between Strong Buy and Buy.
Of the 29 recommendations that derive the current ABR, 15 are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 51.7% and 3.5% of all recommendations.
Brokerage Recommendation Trends for CMCSA
The ABR suggests buying Comcast, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near -term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
ABR Should Not Be Confused With Zacks Rank
In spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Is CMCSA Worth Investing In?
In terms of earnings estimate revisions for Comcast, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $4.23.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Comcast. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Comcast.
Zacks Investment Research
Strange but true: seniors fear death less than running out of money in retirement.
Also, retirees who have constructed a nest egg have valid justifications to be concerned, since the traditional ways to plan for retirement may mean income can no longer cover expenses. Some retirees are now tapping their principal to make a decent living, pressed for time between decreasing investment balances and longer life expectancies.
Retirement investing approaches of the past don't work today.
For many years, bonds or other fixed-income assets could produce the yield needed to provide solid income for retirement needs. However, these yields have dwindled over time: 10-year Treasury bond rates in the late 1990s were around 6.50%, but today, that rate is a thing of the past, with a slim likelihood of rates making a comeback in the foreseeable future.
That means if you had $1 million in 10-year Treasuries, the difference in yield between 1999 and today is more than $1 million.
And lower bond yields aren't the only potential problem seniors are facing. Today's retirees aren't feeling as secure as they once did about Social Security, either. Benefit checks will still be coming for the foreseeable future, but based on current estimates, Social Security funds will run out of money in 2035.
So what can retirees do? You could dramatically reduce your expenses, and go out on a limb hoping your Social Security benefits don't diminish. On the other hand, you could opt for an alternative investment that gives a steady, higher-rate income stream to supplant lessening bond yields.
Invest in Dividend Stocks
As a replacement for low yielding Treasury bonds (and other bond options), we believe dividend-paying stocks from high quality companies offer low risk and stable, predictable income investors in retirement seek.
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions.
A rule of thumb for finding solid income-producing stocks is to seek those that average 3% dividend yield, and positive yearly dividend growth. These stocks can help combat inflation by boosting dividends over time.
Here are three dividend-paying stocks retirees should consider for their nest egg portfolio.
American Assets Trust (AAT)
is currently shelling out a dividend of $0.34 per share, with a dividend yield of 5.02%. This compares to the REIT and Equity Trust - Retail industry's yield of 3.72% and the S&P 500's yield of 1.59%. The company's annualized dividend growth in the past year was 1.52%. Check American Assets Trust dividend history here>>>
Community Financial System (CBU)
is paying out a dividend of $0.46 per share at the moment, with a dividend yield of 3.19% compared to the Financial - Miscellaneous Services industry's yield of 0% and the S&P 500's yield. The annualized dividend growth of the company was 2.27% over the past year. Check Community Financial System dividend history here>>>
Currently paying a dividend of $0.31 per share,
Comcast (CMCSA)
has a dividend yield of 3.14%. This is compared to the Cable Television industry's yield of 0% and the S&P 500's current yield. Annualized dividend growth for the company in the past year was 6.9%. Check Comcast dividend history here>>>
But aren't stocks generally more risky than bonds?
The fact is that stocks, as an asset class, carry more risk than bonds. To counterbalance this, invest in superior quality dividend stocks that not only can grow over time but more significantly, can also decrease your overall portfolio volatility with respect to the broader stock market.
An upside to adding dividend stocks to your retirement portfolio: they can help lessen the effects of inflation, since many dividend-paying companies (especially blue chip stocks) generally increase their dividends over time.
Thinking about dividend-focused mutual funds or ETFs? Watch out for fees.
If you're thinking, "I want to invest in a dividend-focused ETF or mutual fund," make sure to do your homework. It's important to know that some mutual funds and specialized ETFs charge high fees, which may diminish your dividend gains or income and thwart the overall objective of this investment strategy. If you do want to invest in fund, research well to identify the best-quality dividend funds with the least charges.
Bottom Line
Pursuing a dividend investing strategy can help protect your retirement portfolio. Whether you choose to invest in stocks or through low-fee mutual funds or ETFs, this approach can potentially help you achieve a more secure and enjoyable retirement.
Zacks Investment Research
Comcast (CMCSA) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this cable provider have returned -0.2%, compared to the Zacks S&P 500 composite's +3.7% change. During this period, the Zacks Cable Television industry, which Comcast falls in, has lost 0.2%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Comcast is expected to post earnings of $1.06 per share for the current quarter, representing a year-over-year change of -1.9%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The consensus earnings estimate of $4.23 for the current fiscal year indicates a year-over-year change of +6.3%. This estimate has remained unchanged over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $4.49 indicates a change of +6.1% from what Comcast is expected to report a year ago. Over the past month, the estimate has remained unchanged.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Comcast.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of Comcast, the consensus sales estimate of $31.7 billion for the current quarter points to a year-over-year change of +5.3%. The $123.02 billion and $122.7 billion estimates for the current and next fiscal years indicate changes of +1.2% and -0.3%, respectively.
Last Reported Results and Surprise History
Comcast reported revenues of $29.69 billion in the last reported quarter, representing a year-over-year change of -2.7%. EPS of $1.21 for the same period compares with $1.13 a year ago.
Compared to the Zacks Consensus Estimate of $30.07 billion, the reported revenues represent a surprise of -1.26%. The EPS surprise was +9.01%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates three times over this period.
Valuation
No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Comcast is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Comcast. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Zacks Investment Research
The 2024 National Football League season continues with a second week featuring three primetime games and all 32 teams in action, including the Kansas City Chiefs, who are hoping to become the first NFL team to win three straight Super Bowls.
Here's a look at the betting odds and media companies that could benefit in the second week of the 2024 NFL season.
Week 2 Betting Odds: The Chiefs remain the betting favorite to win Super Bowl LIX as the top NFL team for the season after an impressive opening week win over the Philadelphia Eagles.
Here are the week 2 matchups and the betting odds from sportsbook DraftKings Inc with the teams records in parentheses.
A quick look at the betting odds shows that sportsbooks are giving away teams more love this week, with six away teams favored. This compares to Week 1 where only two away teams were favored, and five away teams ended up winning.
The second week also features four matchups between teams that failed to win their opening games, with each team fighting to avoid an early 0-2 start to the season.
At DraftKings, these are the top five teams getting the most action against the spread, according to sports betting writer Ben Fawkes:
In week 1 several of the most bet on teams lost against the spread with top favorite the Bengals -8.5 losing outright. BetMGM's John Ewing said teams with 50% or more bets on them went 6-10 against the spread in week 1.
For Thursday night's opening game featuring the Bills and Dolphins, Ewing said Bills quarterback Josh Allen is 6-0 overall and 4-2 against the spread in Thursday games.
Media Stocks on Watch: NFL viewership was up 12% year-over-year in the first week of the season, as reported by FrontOfficeSports.
A rare Friday game between the Packers and Eagles was watched by 14 million people, with the game being exclusive on the Comcast Corporation Peacock streaming platform.
The Walt Disney Company recorded 20.4 million viewers for the first Monday Night Football game, which was down 10% from last year's record-setting debut, but was the second most-watched Week 1 Monday Night Football game since 2006.
Here are the national primetime television games for the second week of the NFL season:
Of the six teams featured in the primetime games, five won their first week game, setting up some highly anticipated week 2 matchups.
The Sunday 1 p.m. ET and 4 p.m. ET games will be broadcast by Paramount Global unit CBS and Fox Corporation unit FOX.
Coverage will vary by location. In Week 1, CBS and Fox games averaged 18.4 million viewers per game—the highest opening-week Sunday afternoon figure since 2016 and a 21% increase over last year’s opening week.
Read Next:
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The film is the latest example of Comcast NBCUniversal's efforts to extend sustainability from the set to the screen through stories that showcase the realities of our world and the possibilities of a more sustainable future.
NORTHAMPTON, MA / ACCESSWIRE / September 11, 2024 /Twisters, from Universal Pictures, Warner Bros., and Amblin, is a current-day chapter of the 1996 blockbuster. The filmmakers were committed to incorporating the latest climate and tornado science into this modern-day story.
The cast and crew were joined by real-life tornado experts throughout production to bring accurate science to the film. This included Kevin Kelleher, former director of the National Severe Storms Laboratory in Norman, Oklahoma, who served as a technical consultant on Twisters as well as the original film. They were also advised by other scientific experts, including NRDC's Rewrite the Future team who consult across many Universal projects.
Researchers have found that tornado alley - the area of the central U.S. where tornadoes occur most frequently - has been expanding into more highly populated areas of the south-central and southeastern U.S. These changes are making tornadoes more difficult to predict and therefore more difficult for communities to prepare - a dynamic that moviegoers see play out in Twisters. The film partnered with the American Red Cross to support disaster relief efforts.
But it's not all doom and gloom. Filmmakers also worked to bring modern-day climate solutions into the film, with on-screen representation of Oklahoma's powerful wind industry - where wind energy accounts for more than 40% of total in-state electricity generation1.
The first film inspired so many people to get into weather science and research. I would love if that would happen with this movie and inspire the next generation of scientists.- Lee Isaac Chung, Twisters director
Twisters and Universal also went beyond the script to engage audiences. This included creating an in-theater sustainability video featuring Twisters director Lee Isaac Chung to help inspire moviegoers in the weeks leading up to the release, as well as participating in the 2024 Hollywood Climate Summit.
Twisters was one of the first films to be greenlit under Universal's recently launched GreenerLight Program, an initiative that aims to incorporate sustainability across the entire filmmaking process through development, production, and distribution.
Behind the scenes, Twisters had a dedicated sustainability team focused on reducing fuel, plastic, and waste. This included use of mobile batteries, grid ties, and solar-powered trailers to reduce the need for diesel generators, as well as a no-idling policy for cars and trucks. The team also donated excess food from catering, and set materials went to local organizations such as Habitat for Humanity.
Twisters received a Green Seal from the Environmental Media Association, which recognizes efforts in sustainable production.
View additional multimedia and more ESG storytelling from Comcast Corporation on 3blmedia.com.
Contact Info: Spokesperson: Comcast Corporation Website: https://www.3blmedia.com/profiles/comcast-corporation Email: info@3blmedia.com
SOURCE: Comcast Corporation
View the original press release on accesswire.comoperates as a broadband connectivity and cable operator company serving residential and commercial customers. Based in Stamford, Connecticut, the company offers subscription-based internet, video, and voice services, as well as a suite of broadband connectivity services, including fixed internet and WiFi. It also owns and operates regional sports networks and local sports and news channels.
Companies worth more than $10 billion are generally labeled as “large-cap” stocks, and Charter Communications fits this criterion perfectly. The company distinguishes itself as the second-largest cable operator in the U.S., with services available to more than 57 million homes and businesses in 41 states.
Shares of CHTR are trading 29.7% below its marginal decline over the same time frame.
In the longer term, CHTR stock is down 17.1% on a YTD basis, lagging behind XLC’s 16.1% gains. Shares of CHTR have declined 23.8% over the past 52 weeks, underperforming XLC’s 26% returns over the same time frame.
CHTR has been trading above its 200-day moving average since late July. However, has remained above its 50-day moving average since early September, despite some fluctuations, indicating a bullish trend.
CHTR’s underperformance is primarily driven by a decline in its video subscribers due to cord-cutting and stiff competition from streamers, as well as the weaker-than-expected performance of the company in five of the last seven quarters.
CHTR reported Q2 earnings on Jul. 26. The company reported a profit of $1.23 billion, or $8.49 per share, surpassing Wall Street expectations of $7.55 per share. Also, the company's revenue of $13.69 billion exceeded analysts’ estimates of $13.62 billion. Moreover, the stock 10.2% decline on a YTD basis and a 12.5% drop over the past 52 weeks.
Since CHTR has underperformed the broader market, analysts remain cautious about its prospects. The stock has a consensus rating of “Hold” from the 24 analysts in coverage, and the mean price target of $372.76 suggests a premium of 15.2% to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
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