Comcast Corp.’s (CMCSA) Buy Rating Reiterated at Jefferies Group
Comcast Corp. (NASDAQ:CMCSA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group in a research report issued to clients and investors on Friday. They presently have a $77.00 price objective on the cable giant’s stock. Jefferies Group’s price target points to a potential upside of 17.72% from the stock’s previous close.
CMCSA has been the topic of several other research reports. Telsey Advisory Group upped their target price on Comcast Corp. from $75.00 to $76.50 and gave the company an “outperform” rating in a research report on Friday, August 19th. Barclays PLC restated an “overweight” rating and set a $69.00 target price (up previously from $65.00) on shares of Comcast Corp. in a research report on Sunday, July 10th. Argus restated a “buy” rating and set a $81.00 target price on shares of Comcast Corp. in a research report on Tuesday, September 27th. Nomura upped their target price on Comcast Corp. from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, June 27th. Finally, Robert W. Baird restated an “outperform” rating and set a $70.00 target price on shares of Comcast Corp. in a research report on Sunday, September 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $72.00.
Comcast Corp. (NASDAQ:CMCSA) traded down 0.32% on Friday, reaching $65.20. The company’s stock had a trading volume of 3,991,130 shares. The company has a market cap of $157.25 billion, a P/E ratio of 19.82 and a beta of 1.05. Comcast Corp. has a 52-week low of $52.34 and a 52-week high of $68.36. The firm’s 50-day moving average price is $66.03 and its 200 day moving average price is $64.14.
Comcast Corp. (NASDAQ:CMCSA) last announced its earnings results on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. Comcast Corp. had a return on equity of 15.04% and a net margin of 10.70%. The company had revenue of $18.74 billion for the quarter, compared to analyst estimates of $19.11 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Comcast Corp. will post $3.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, October 3rd. Comcast Corp.’s dividend payout ratio (DPR) is 33.43%.
In other news, Chairman Brian L. Roberts sold 304,109 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $67.26, for a total value of $20,454,371.34. Following the completion of the transaction, the chairman now directly owns 630,596 shares of the company’s stock, valued at $42,413,886.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Neil Smit sold 15,121 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $65.68, for a total value of $993,147.28. Following the completion of the transaction, the executive vice president now directly owns 66,289 shares of the company’s stock, valued at $4,353,861.52. The disclosure for this sale can be found here. Company insiders own 1.27% of the company’s stock.
Several institutional investors have recently bought and sold shares of CMCSA. Bank of Montreal Can bought a new position in Comcast Corp. during the second quarter worth approximately $446,948,000. Janus Capital Management LLC raised its position in Comcast Corp. by 26.5% in the second quarter. Janus Capital Management LLC now owns 22,476,251 shares of the cable giant’s stock worth $1,465,205,000 after buying an additional 4,708,325 shares during the last quarter. Wellington Management Group LLP raised its position in Comcast Corp. by 9.5% in the first quarter. Wellington Management Group LLP now owns 54,138,081 shares of the cable giant’s stock worth $3,306,753,000 after buying an additional 4,682,432 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Comcast Corp. during the second quarter worth approximately $275,565,000. Finally, Bessemer Group Inc. raised its position in Comcast Corp. by 6,562.5% in the first quarter. Bessemer Group Inc. now owns 4,160,780 shares of the cable giant’s stock worth $254,140,000 after buying an additional 4,098,329 shares during the last quarter. 82.22% of the stock is owned by hedge funds and other institutional investors.
About Comcast Corp.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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