At a recent price of $14.50, Comcast share price is down over 20% from its price just two months ago. At virtually the same time the stock price fell the company announced a 22% increase in third quarter earnings.

Investors have made little profit in Comcast since 1999. However, most of the high capital expenditures are over for the company and it is now generating huge positive cash flow. It is the fastest and most dependable high speed internet connection and business and personal consumers are migrating toward it.

The “triple play” option in urban areas – voice, data, and video – is a popular choice and customers seem to increasingly elect this plan even in tough economic times.

For the past five years, revenue, earnings, and cash flow have increased. From $0.47 per share earnings in 2006 the company is on pace to do $1.20 per share in 2010.

The planned purchase of controlling interest of NBC represents a significant move into content management as opposed to the delivery of content. This will change the mission of the company. It makes the stock more risky. It also increases potential rewards.

The dividend rate is low at 1.7%. The stock is appropriate for investors comfortable with greater risk in measured amounts. Volatility could be high.

Preston F. Sanders is a Chartered Financial Consultant and Registered Investment Advisor. He lives in Washington, Georgia, and can be reached at prestonsanders@bellsouth.net.

NOTE: Any investment can lose value. Don’t buy any stock without a careful evaluation of it’s appropriateness for your situation. See your financial/investment advisor.