Company Update (NASDAQ:CMCSA): Comcast Business Announces More Than $9 Million Investment to Expand High-Performance Gigabit Ethernet Network in Virginia

[PR Newswire] – RICHMOND, Va., June 22, 2016 /PRNewswire/ — Comcast Business today announced it will invest more than $9 million over the next year in a major expansion of its fiber-based network in diverse areas across Virginia, reaching more than 3,000 businesses. The completed investment will provide businesses and government organizations in parts of growing economic hubs, such as the Capitol District, Scott’s Addition and the Museum District, with high-performance Ethernet, Internet and advanced voice solutions. Additional network expansions over the next year include Glen Allen outside of Richmond, Sterling near Dulles Airport, Manassas, Fredericksburg, and parts of Southwest Virginia, including Lynchburg, Salem and Roanoke County within the company’s existing footprint. “The investments Comcast continues to make in Virginia’s technological infrastructure play a key role in maintaining our competitive business climate in a 21st-century economy,” said Virginia Secretary of Technology Karen Jackson. Read more on this. Comcast Corporation (CMCSA) , currently valued at $152.44B, opened this morning at $62.54. Looking at the equity, the company’s one day range is $62.21 to $63.16 and has traded between $50.00 and $64.99 over the past year. CMCSA shares are currently priced at 17.67x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.99x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.10 per share annually in dividends, yielding 1.76%. Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $0.84 per share, which would be $0.00 worse than the year-ago quarter and a $0.02 sequential decrease. Investors should also note that the full-year EPS estimate of $3.54 is a $0.30 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $19.11 Billion. If realized, that would be a 1.97% increase over the year-ago quarter. Recently, Argus upgraded CMCSA from Hold to Buy (Feb 5, 2016). Previously, Sun Trust Rbsn Humphrey Initiated CMCSA at to Neutral. With the above information in mind, readers should note that the average price target is $71.19, which is 13.83% above where the stock opened this morning. See more in (NASDAQ:CMCSA) Similar Articles: Stock Update: Comcast Corporation (NASDAQ:CMCSA) – Comcast Business Ethernet Creates 16-Site Network for LifeWorks Northwest Company Update (NASDAQ:CMCSA): Comcast Business Expands Fiber Network to City of Manvel Stock Update (NASDAQ:CMCSA): Comcast Business Expands High-Performance Communications Network to More Local Businesses in North Salt Lake, Utah