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Comcast (CMCSA) closed at $38.94 in the latest trading session, marking a +1.7% move from the prior day. This move outpaced the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.4%.

The the stock of cable provider has risen by 2.27% in the past month, leading the Consumer Discretionary sector's loss of 0.25% and undershooting the S&P 500's gain of 3.78%.

Analysts and investors alike will be keeping a close eye on the performance of Comcast in its upcoming earnings disclosure. The company's earnings report is set to go public on July 23, 2024. On that day, Comcast is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 1.77%. Meanwhile, the latest consensus estimate predicts the revenue to be $30.07 billion, indicating a 1.46% decrease compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.21 per share and a revenue of $123.69 billion, representing changes of +5.78% and +1.74%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Comcast. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.09% fall in the Zacks Consensus EPS estimate. As of now, Comcast holds a Zacks Rank of #3 (Hold).

Looking at valuation, Comcast is presently trading at a Forward P/E ratio of 9.1. This expresses a discount compared to the average Forward P/E of 9.67 of its industry.

We can additionally observe that CMCSA currently boasts a PEG ratio of 0.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Cable Television was holding an average PEG ratio of 0.96 at yesterday's closing price.

The Cable Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.