Comcast (NASDAQ:CMCSA – Free Report) had its target price trimmed by Scotiabank from $29.00 to $27.50 in a report published on Friday morning, MarketBeat reports. The brokerage currently has a sector perform rating on the cable giant’s stock.
A number of other equities analysts also recently weighed in on the company. Wells Fargo & Company set a $23.00 price target on Comcast and gave the stock an “underweight” rating in a research report on Friday, July 24th. Bank of America reaffirmed a “buy” rating and issued a $35.00 price objective (down from $37.00) on shares of Comcast in a research report on Wednesday, September 16th. UBS Group reiterated a “neutral” rating and set a $27.00 target price (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. Royal Bank Of Canada set a $26.00 target price on Comcast and gave the stock a “sector perform” rating in a report on Friday, July 24th. Finally, Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.
Get Our Latest Report on Comcast
Comcast Stock Performance
Comcast (NASDAQ:CMCSA – Get Free Report) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The company had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the prior year, the firm earned $1.25 EPS. Comcast’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Comcast will post 3.48 earnings per share for the current year.
Comcast Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a yield of 6.1%. Comcast’s dividend payout ratio (DPR) is 42.72%.
Institutional Investors Weigh In On Comcast
A number of institutional investors have recently made changes to their positions in CMCSA. Lowe Brockenbrough & Co. Inc. grew its stake in Comcast by 4.9% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after purchasing an additional 352 shares during the period. Cedar Mountain Advisors LLC lifted its stake in Comcast by 48.2% in the first quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant’s stock valued at $34,000 after buying an additional 389 shares during the period. PFG Investments LLC lifted its stake in Comcast by 0.9% in the first quarter. PFG Investments LLC now owns 41,771 shares of the cable giant’s stock valued at $1,199,000 after buying an additional 391 shares during the period. Iron Gate Global Advisors LLC boosted its holdings in shares of Comcast by 4.6% during the 4th quarter. Iron Gate Global Advisors LLC now owns 8,956 shares of the cable giant’s stock worth $268,000 after buying an additional 395 shares in the last quarter. Finally, Simmons Bank grew its position in shares of Comcast by 2.3% during the 1st quarter. Simmons Bank now owns 17,795 shares of the cable giant’s stock worth $511,000 after buying an additional 400 shares during the period. Institutional investors own 84.32% of the company’s stock.
About Comcast
Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.
Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.
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