Comcast Has Opportunities to Improve Connectivity Cash Flow from Rising Mix of Broadband Revenues: Citi Analysts
Citigroup Research maintains a Buy rating on Comcast Corp (CMCSA).
Citi’s analysts expect Comcast to report relatively in-line 1Q2023 results for the cable business as the company continues to navigate an ex-growth environment for cable broadband volume, even though the bank keeps its outlook for NBCU below consensus, given wider expectations for ongoing headwinds from a softer macro and tough year-on-year comparisons.
On a consolidated basis, Citi' outlook for CMCSA’s EBITDA is about 40bps below consensus, while EPS outlook is above consensus. The bank’s analysts also forecast buybacks continued steadily through the quarter at ~$2 billion.
Inflation and Bank Earnings in Focus This Week
First quarter earnings season will get underway this week with big banks reporting results on Friday, April 14, as investors turn their attention slightly away from Fed policy and towards the state of play in corporate America.
Global Banks Pledged to Cut Emissions – but Still Invest Billions on U.S. Gas Exports
According to The Guardian, In March, the Intergovernmental Panel on Climate Change warned any new fossil fuel development is likely to push the earth’s climate past an increasingly dangerous 2 degrees of warming.
McDonald's Temporarily Shuts U.S. Offices, Prepares Layoff Notices: Report
The world’s largest fast food chain McDonald's Corp (MCD) is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about its layoffs as part of a broader company restructuring, the Wall Street Journal reported on Sunday.
