Comcast (NASDAQ:CMCSA) Price Target Cut to $53.00 by Analysts at Moffett Nathanson

Comcast (NASDAQ:CMCSA) had its target price reduced by Moffett Nathanson from $58.00 to $53.00 in a report released on Thursday morning,MarketScreener reports. They currently have a buy rating on the cable giant’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays decreased their price objective on shares of Comcast from $34.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, November 3rd. JPMorgan Chase & Co. decreased their price target on Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Arete dropped their price objective on Comcast from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Morgan Stanley decreased their target price on Comcast from $35.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Finally, BNP Paribas upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Tuesday, November 4th. Ten research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average price target of $36.12.

Comcast Stock Down 1.6%

CMCSA stock traded down $0.46 during midday trading on Thursday, hitting $27.51. The company’s stock had a trading volume of 37,838,291 shares, compared to its average volume of 25,319,842. The firm has a 50-day simple moving average of $30.25 and a 200-day simple moving average of $32.93. The firm has a market capitalization of $100.24 billion, a P/E ratio of 4.58, a PEG ratio of 1.81 and a beta of 0.92. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast has a 52-week low of $25.75 and a 52-week high of $44.03.

Comcast (NASDAQ:CMCSA) last released its earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The firm had revenue of $30.34 billion during the quarter. As a group, equities analysts forecast that Comcast will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.8%. Comcast’s payout ratio is 21.96%.

Institutional Investors Weigh In On Comcast

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its holdings in shares of Comcast by 13.0% in the second quarter. QRG Capital Management Inc. now owns 724,760 shares of the cable giant’s stock worth $25,867,000 after acquiring an additional 83,631 shares during the last quarter. Advisor OS LLC grew its holdings in shares of Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant’s stock worth $1,308,000 after buying an additional 8,841 shares in the last quarter. Aberdeen Group plc raised its position in shares of Comcast by 5.4% in the second quarter. Aberdeen Group plc now owns 2,889,947 shares of the cable giant’s stock valued at $103,142,000 after buying an additional 147,231 shares during the last quarter. Penserra Capital Management LLC boosted its position in Comcast by 20.0% during the second quarter. Penserra Capital Management LLC now owns 82,089 shares of the cable giant’s stock worth $2,928,000 after acquiring an additional 13,653 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in Comcast by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant’s stock worth $47,254,000 after acquiring an additional 118,839 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.