1 / 24

Comcast

Comcast. Tyler Smith. Presentation Outline. Snapshot Current Position Profile Current News Financial Statements Industry Comparison Stock Comparison Trend Analysis Common Size Analysis Stock Valuation Model. EVA & MVA Model Free Cash Flow Model ValuePro Valuation

jana
Télécharger la présentation

Comcast

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Comcast Tyler Smith

  2. Presentation Outline • Snapshot • Current Position • Profile • Current News • Financial Statements • Industry Comparison • Stock Comparison • Trend Analysis • Common Size Analysis • Stock Valuation Model • EVA & MVA Model • Free Cash Flow Model • ValuePro Valuation • Summary of Models • Analyst Recommendation • Risk • Recommendation

  3. Company Snapshot • Market Cap: 64.14 Billion • Industry: Broadcasting and Cable TV • Sector: Services • Recent Stock Price: $29.50 • 52wk High and low: high: $36.50 low: $26.25 • Beta: .96 • Ticker Symbol: CMCSA

  4. Current Position Comcast stock was acquired in 2002 in a spin-off involving AT&T stock after AT&T broadband was purchased by Comcast Corp. As part of the spin-off, each share of AT&T Broadband common stock was converted into the right to receive 0.3235 shares of new Comcast common stock. Prior to the acquisition, SMIP owned 100 shares of AT&T Corp. and ended with 32 shares of Comcast Class A common stock. 100 * .3235 = 32.35 shares (CMCSA)

  5. Current Position • 32 Shares • Spin-off date - November 15, 2002 • Acquired @ $25.62 for a value of $818.84 • Current Market Value @ $29.49 = $944 • Incurred gain to date = $125.16

  6. Company Profile Comcast Corp. develops, manages, and operates hybrid fiber-coaxial broadband cable communication networks. The Company also provides programming content for its subscribers. Comcast is implementing high-speed Internet access service and digital video applications such as Video on Demand. Competitors include Direct TV, Echostar and Time Warner Cable

  7. Current News Sept. 13: Comcast and Sony Pictures Entertainment announce programming deal Sept 27: Comcast. and Time Warner Inc. join in talks on a possible joint offer to acquire bankrupt cable company Adelphia Communications Corp. Oct. 12: Comcast and Time Warner Cable announce plans for a new regional sports network with the New York Mets in 2006 Oct. 27: Comcast releases Q3 earnings

  8. Financial Statements See handout…

  9. Industry Comparison

  10. Comcast vs. Competitors

  11. 1 Year Stock Comparison vs. S&P500

  12. 3 Year Stock Comparison vs. S&P500

  13. Trend Analysis

  14. Trend Analysis

  15. Common Size Analysis

  16. Stock Valuation

  17. EVA & MVA Model Inputs

  18. EVA & MVA Model

  19. Free Cash Flow Model

  20. Value Pro Model

  21. Summary of Valuations • Basic Stock Valuation • Constant Growth Model = $26.41 • Dividend Earnings Model = $26.72 • Price / Earnings Model = $30.27 • EVA - destroying S.H. Wealth • MVA - Creating S.H. Wealth • Free Cash Flow - Per Share Value = $36.66 • Value Pro - Intrinsic value = $24.73

  22. Risk • Risk Grade = 99 • 6 month: min=90; max=132 ; avg.=113 • CMCSA constitutes 0% of the Portfolios Risk due to our small holding

  23. Analysts Recommendations • Current Month Analyst Recommendations • Buys = 62.85% (22 analysts) • Holds = 37.14% (13 analysts) • Sells = 0% (0 analyst)

  24. Recommendation Buy 100 Shares at current market price Suggested Floor: - Keep current floor of $26.00/share

More Related