Comcast (NASDAQ:CMCSA – Free Report) had its price objective lowered by Scotiabank from $36.00 to $32.75 in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a sector perform rating on the cable giant’s stock.
A number of other analysts have also weighed in on the stock. Morgan Stanley cut their price objective on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. BNP Paribas Exane decreased their target price on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday. New Street Research lowered their price target on shares of Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Citigroup lowered their price target on shares of Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research report on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus target price of $33.64.
View Our Latest Research Report on CMCSA
Comcast Trading Down 1.3%
Comcast (NASDAQ:CMCSA – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Comcast’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Comcast will post 3.49 EPS for the current year.
Comcast Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s payout ratio is 25.98%.
Institutional Trading of Comcast
A number of hedge funds have recently added to or reduced their stakes in the company. Imprint Wealth LLC purchased a new stake in shares of Comcast during the 3rd quarter worth about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast in the 4th quarter valued at about $27,000. Whipplewood Advisors LLC raised its holdings in Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after purchasing an additional 401 shares during the period. Main Street Group LTD acquired a new position in Comcast in the 1st quarter worth about $27,000. Finally, Olistico Wealth LLC purchased a new position in Comcast during the fourth quarter worth approximately $29,000. 84.32% of the stock is owned by hedge funds and other institutional investors.
About Comcast
Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.
NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.
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