The Factors Driving Up Comcast Stock

Comcast’s stock price performance

Comcast (CMCSA) stock closed at $40.20 on August 25, 2017. It has risen 16.3% year-to-date and 1.7% in the past month. In contrast, the stock for peers The Walt Disney Company (DIS) and Twenty-First Century Fox (FOXA) have fallen 2.6% and by 3.4%, respectively, year-to-date. However, Time Warner (TWX) stock has risen 5.0% year-to-date.

The Factors Driving Up Comcast Stock

Earlier this month, the hedge fund Tiger Global Management, according to its 13F SEC (U.S. Securities and Exchange Commission) filing, raised its stake in Comcast by 39.4% for fiscal 2Q17 to 7.3 million shares.

Comcast’s 2Q17 earnings exceeded consensus Wall Street analysts’ estimates. The company reported revenues of $21.2 billion in fiscal 2Q17, a 9.8% rise YoY (year-over-year), and had a net income of $2.5 billion. Comcast’s adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) was $7.0 billion.

Comcast announced EPS (earnings per share) of $0.52, which exceeded the consensus Wall Street analysts’ estimate of $0.48.

In this series

In this series, we’ll look at the key growth drivers for Comcast in the second half of 2017. We’ll also see how Comcast is positioned in the rising trend of viewing content online. We’ll also look at Comcast’s recent move to partner with Sunrun (RUN) to offer solar products and the possibility of the company offering a premium movie-on-demand service.