Comcast Co. (NASDAQ:CMCSA – Get Rating)’s stock price hit a new 52-week low during mid-day trading on Tuesday after Credit Suisse Group lowered their price target on the stock from $57.00 to $51.00. Credit Suisse Group currently has an outperform rating on the stock. Comcast traded as low as $30.44 and last traded at $30.44, with a volume of 725289 shares traded. The stock had previously closed at $30.89.
CMCSA has been the topic of several other research reports. Wells Fargo & Company reduced their price target on shares of Comcast from $37.00 to $36.00 and set an “underweight” rating on the stock in a research report on Monday, September 12th. Redburn Partners lowered shares of Comcast from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th. Barclays reduced their price target on shares of Comcast to $42.00 in a research report on Tuesday, August 9th. TD Securities increased their price objective on shares of Comcast from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, Cowen dropped their price objective on shares of Comcast from $60.00 to $51.00 in a research note on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $51.72.
Institutional Trading of Comcast
Institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in shares of Comcast during the fourth quarter valued at approximately $36,000. Financial Gravity Asset Management Inc. increased its position in shares of Comcast by 1,476.6% during the second quarter. Financial Gravity Asset Management Inc. now owns 741 shares of the cable giant’s stock valued at $4,347,000 after acquiring an additional 694 shares during the last quarter. Exane Derivatives increased its position in shares of Comcast by 566.7% during the first quarter. Exane Derivatives now owns 900 shares of the cable giant’s stock valued at $42,000 after acquiring an additional 765 shares during the last quarter. Pacifica Partners Inc. increased its position in shares of Comcast by 33.8% during the first quarter. Pacifica Partners Inc. now owns 989 shares of the cable giant’s stock valued at $46,000 after acquiring an additional 250 shares during the last quarter. Finally, Disciplined Investments LLC increased its position in shares of Comcast by 47.8% during the first quarter. Disciplined Investments LLC now owns 1,011 shares of the cable giant’s stock valued at $47,000 after acquiring an additional 327 shares during the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.
Comcast Stock Down 1.5 %
The stock has a 50-day moving average of $37.36 and a 200 day moving average of $41.11. The company has a market capitalization of $134.34 billion, a PE ratio of 10.09, a P/E/G ratio of 0.65 and a beta of 0.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.
Comcast (NASDAQ:CMCSA – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The cable giant reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The business had revenue of $30.02 billion during the quarter, compared to analyst estimates of $29.72 billion. During the same period in the prior year, the company earned $0.84 earnings per share. Comcast’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Comcast Co. will post 3.62 EPS for the current year.
Comcast Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Tuesday, October 4th. Comcast’s payout ratio is currently 35.29%.
Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.