Comcast (CMCSA) stock got a slight boost on Monday morning after the company’s live-action remake of How to Train Your Dragon topped the weekend box office. The film brought in $83.7 million in North America and $114 million from overseas markets, for a total of nearly $198 million.
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How to Train Your Dragon’s box office performance looks good compared to its budget of $150 million for production and $100 million for marketing. The film is more than likely to bring in a profit for Comcast once its theatrical run is complete.
Comcast has high hopes for the live-action remakes of the How to Train Your Dragon films. The company has already started production of a second film in the series, which will roughly match the story of the original animated movie released in 2014.
Comcast Dethrones Disney at the Box Office
How to Train Your Dragon benefited from no major competition from Disney (DIS). While the live-action remake of Lilo & Stitch is still in theaters, it’s four weeks into its theatrical run, meaning it’s already been seen by a large audience.
Lilo & Stitch, having lost much of its momentum, allowed How to Train Your Dragon to dominate the box office. However, it won’t go unchallenged this weekend. That’s when Elio, the newest film from Disney’s Pixar, is set to hit theaters. This could eat into the How to Train Your Dragon remake’s box office performance.
CMCSA stock was up 0.57% during pre-market trading on Monday. Even so, the company’s shares are still down 5.07% year-to-date.
Is Comcast Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Comcast is Moderate Buy, based on nine Buy, 10 Hold, and two Sell ratings over the past three months. With that comes an average CMCSA stock price target of $40.86, representing a potential 16.71% upside for the shares.
