Comcast Corporation (CMCSA) Given Average Recommendation of “Buy” by Analysts
Comcast Corporation (NASDAQ:CMCSA) has been assigned a consensus rating of “Buy” from the twenty-seven analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $45.83.
A number of equities research analysts have issued reports on CMCSA shares. Moffett Nathanson downgraded shares of Comcast Corporation from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Tuesday, June 20th. BidaskClub lowered Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Pivotal Research reaffirmed a “buy” rating and issued a $48.00 target price on shares of Comcast Corporation in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Comcast Corporation in a research report on Wednesday, June 28th. Finally, Instinet reiterated a “buy” rating and set a $46.00 price target on shares of Comcast Corporation in a report on Wednesday, June 28th.
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In other news, Director Kenneth J. Bacon sold 2,232 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the sale, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Arthur R. Block sold 4,091 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the sale, the executive vice president now owns 68,478 shares of the company’s stock, valued at $2,626,816.08. The disclosure for this sale can be found here. Insiders have sold a total of 9,982 shares of company stock valued at $385,050 over the last ninety days. 1.28% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Comcast Corporation by 2.8% during the second quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after buying an additional 8,677,771 shares during the period. State Street Corp increased its holdings in shares of Comcast Corporation by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock worth $7,499,933,000 after buying an additional 98,570,377 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Comcast Corporation by 97.6% in the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock worth $3,663,324,000 after buying an additional 48,147,456 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Comcast Corporation by 95.7% in the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock worth $2,244,768,000 after buying an additional 29,199,805 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Comcast Corporation by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock worth $2,218,587,000 after buying an additional 680,012 shares during the period. 81.93% of the stock is currently owned by institutional investors.
Shares of Comcast Corporation (NASDAQ:CMCSA) traded up 0.431% during midday trading on Wednesday, hitting $38.465. The stock had a trading volume of 9,301,240 shares. The company’s 50 day moving average is $39.17 and its 200 day moving average is $39.23. Comcast Corporation has a 52 week low of $30.02 and a 52 week high of $42.18. The firm has a market cap of $181.30 billion, a P/E ratio of 19.378 and a beta of 0.98.
Comcast Corporation (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $21.17 billion for the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. On average, equities analysts predict that Comcast Corporation will post $2.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, October 3rd. Comcast Corporation’s payout ratio is 31.74%.
About Comcast Corporation
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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