Comcast Corporation (CMCSA) is a provider of entertainment, information and communications products and services. CMCSA is currently trading around $52.19 in a 52 week range of $46.58 – 57.49. The company’s stock has been outperforming the DOW this year with shares increasing .49% year to date. Shares have traded lower in the last month, down 6.5% since Sept 23.
Comcast is scheduled to report Q3 2014 earnings before the opening bell on Thursday, October 23th. The results are scheduled for release at approximately 9:30 a.m. The company is expected to show net income of $1.86 billion, compared to $1.73 billion for the same period last year, according to analysts polled by Thomson Reuters. Earnings per share are forecast to rise 8.8 percent to 70 cents per share, compared to 65 cents per share a year earlier. Comcast’s quarterly revenue is expected to increase 4.3 percent to $16.84 billion, up from $16.15 billion a year earlier.
Looking at the company’s earnings history, CMCSA has rallied 7 of the last 8 quarters, trading negative only after the earnings release exactly 1 year ago. On average, the stock has moved about 2.5% in the last 8 quarters as a result of earnings releases. This earnings season, market makers are implying about a +- 3.3% move in the stock for the October 24 option chain. CMCSA has been trading below the Ichimoku Cloud on the daily chart, which indicates bearish momentum for the stock.