NEW YORK (TheStreet) -- Comcast's (CMCSA) solid performance over the past year has helped boost the stock to a new 52-week high today, as the company catches up to some of its stronger cable competitors including Cablevision (CVC) and Time Warner Cable (TWC).
Analyst Bryan Kraft with Evercore Partners said that while Comcast performed "in line with the market" today, it has been gaining on cable contenders for the past year.Comcast rose 0.05% to reach a new year-high of $21.39 in morning trading today and closed at $21.32 after 17.2 million shares traded hands, compared with the stock's 3-month daily average of 15.9 million. The stock is up more than 26% in the past year. "Time Warner Cable and Cablevision have been the real strong performers," Kraft said, "and Comcast is due to catch up." While Comcast saw its third-quarter earnings fall 8.2% to $867 million, or 31 cents a share, its total revenue rose 7.1% to $5.91 billion from $5.52 billion. The company reported a 4% increase in total customers to 64.8 million from 67.4 million, which is more subscribers than Time Warner Cable and Cablevision combined. A 3.5% decrease in video subscribers was offset by 13.2% growth in voice customers and a 6.5% increase in high-speed Internet customers. The monthly average revenue per video customer was up 10.4% to $129.75. Kraft rates Comcast as a buy with a price target of $26 as he forecasts free cash flow through 2015 to average 9.4%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV