CMCSA

Comcast Corp

TMT


Presented:12/19/2018
Price:$35.19
Cap:$160.10B
Current Price:$42.11
Cap:$163.07B

Presented

Date12/19/2018
Price$35.19
Market Cap$160.10B
Ent Value$227.92B
P/E Ratio6.85x
Book Value$15.72
Div Yield2.16%
Shares O/S4,549.50M
Ave Daily Vol24,336,175
Short Int1.53%

Current

Price$42.11
Market Cap$163.07B
Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Corporate and Other. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand. The Cable Networks segment consists of national cable networks, regional sports, news networks, international cable networks, and cable television studio production operations. The Broadcast Television segment includes NBC and Telemundo broadcast networks. The Filmed Entertainment segment involves in the production, acquisition, marketing, and distribution of filmed entertainment. The Theme Parks segment consists of Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. The Corporate and Other segment includes operations of other business interests, primarily of Comcast Spectacor. The company was founded by Ralph J. Roberts in 1963 and is headquartered in Philadelphia, PA.

Publicly traded companies mentioned herein: AT&T Inc (T), Comcast Corp (CMCSA), Netflix Inc (NFLX), Sky plc (private with public debt), Verizon Communications Inc (VZ), Walt Disney Co/The (DIS)

Highlights

The presenter is long shares of Comcast Corp (CMCSA) and views the stock as interesting at 8x trailing EBITDA, only slightly above its decelerating peers. Despite secular concerns, CMCSA’s core business is accelerating and should continue to do so over the next 2+ years. The current price of ~$36 and ~8x trailing EBITDA multiple is inexpensive, in his opinion, and he believes a price target of $48 over the next year is achievable (~35%, including dividend payments).

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Idea Discussion

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