5 Best Broadcasting Stocks To Buy

1. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 72

Comcast Corporation (NASDAQ:CMCSA) operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. Comcast Corporation (NASDAQ:CMCSA) is one of the biggest broadcasting and cable television companies in the world. On April 27, the company reported a Q1 non-GAAP EPS of $0.92 and a revenue of $29.69 billion, outperforming Wall Street estimates by $0.10 and $350 million, respectively. 

On May 1, BofA analyst Jessica Reif Ehrlich upgraded Comcast Corporation (NASDAQ:CMCSA) to Buy from Neutral with a price target of $49, up from $44. In a research note to investors, the analyst stated that Comcast Corporation (NASDAQ:CMCSA) reported strong financial results in the first quarter and management provided positive commentary. The firm believes that these results indicate a turning point for the company. 

According to Insider Monkey’s fourth quarter database, 72 hedge funds were bullish on Comcast Corporation (NASDAQ:CMCSA), compared to 73 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the biggest position holder in the company. 

ClearBridge Multi Cap Growth Strategy made the following comment about Comcast Corporation (NASDAQ:CMCSA) in its Q4 2022 investor letter:

“That balance served the Strategy well throughout the year, enabling outperformance against the benchmark in all four quarters. Results in the last three months were driven by a long-time media position in Comcast Corporation (NASDAQ:CMCSA), which we consider a durable compounder due to its consistent revenue growth and free cash flow generation. Comcast shares saw a snapback after a difficult first half of the year caused by cord cutting in its cable business and slowing subscriber growth in its broadband business. A flexible balance sheet and strong cash generation enabled the company to repurchase shares during the selloff earlier in the year.”

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