We all know that entertainment giant Comcast (CMCSA) is potentially considering a play for Warner Bros. Discovery (WBD). Despite this, it still has its own affairs to run, and recently made some moves in its sports operations. These struck an oddly sympathetic chord with investors, as shares picked up modestly in the closing minutes of Wednesday’s trading.
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One major change for Comcast, once it spins off its linear television operations into the Versant name, is that it might end up selling off the SportsEngine app, a youth sports management tool. SportsEngine offers a range of services, including payment processing for fees and the like. Right now, it has a reach of around 1.2 million teams, and 45,000 organizations.
Further, Comcast also put on something of a brand refresh, using USA Sports as the “flagship brand for live sports programming” across all of Comcast’s networks, once they become Versant’s networks. This will include a little more than 10,000 hours of competitions, ranging from the WNBA to NASCAR to PGA Tour action, among others.
Not Comcastic in Sherman
Meanwhile, out in the village of Sherman in Illinois, residents are still having their share of trouble with Comcast. Work crews are apparently leaving the village in terrible shape, including, at one point, an incident where Comcast crews drilled through a sewage pipe. The problems have been going on for the last two months, reports suggest, and the mayor of Sherman is still fielding calls from angry residents.
But the mayor also noted that Comcast had made substantial progress toward fixing the problems, including paying to repair sewer lines and firing subcontractors and other employees who were not “…meeting working standards.” That is good news given that Comcast has only completed about 20% of its planned project. The remaining 80% is expected to be complete by this June, which might be worrisome if it weren’t for the repair efforts Comcast has undertaken.
Is Comcast Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on CMCSA stock based on nine Buys, nine Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 37.49% loss in its share price over the past year, the average CMCSA price target of $36.36 per share implies 30.23% upside potential.
