Investors Buy Comcast Corporation (CMCSA) on Weakness
Investors bought shares of Comcast Corporation (NASDAQ:CMCSA) on weakness during trading on Thursday. $121.38 million flowed into the stock on the tick-up and $61.16 million flowed out of the stock on the tick-down, for a money net flow of $60.22 million into the stock. Of all equities tracked, Comcast Corporation had the 17th highest net in-flow for the day. Comcast Corporation traded down ($0.01) for the day and closed at $36.41
A number of brokerages recently weighed in on CMCSA. ValuEngine cut shares of Comcast Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Robert W. Baird restated a “buy” rating and issued a $43.00 price objective on shares of Comcast Corporation in a report on Friday, September 1st. UBS Group AG restated an “overweight” rating on shares of Comcast Corporation in a report on Thursday, August 24th. Guggenheim upgraded shares of Comcast Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $42.00 to $46.00 in a report on Thursday, August 3rd. Finally, Argus lifted their price objective on shares of Comcast Corporation from $44.00 to $48.00 and gave the company a “buy” rating in a report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Comcast Corporation presently has a consensus rating of “Buy” and an average price target of $45.93.
The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market cap of $170,218.73, a price-to-earnings ratio of 18.07, a P/E/G ratio of 1.92 and a beta of 1.00.
Comcast Corporation (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Comcast Corporation had a net margin of 11.99% and a return on equity of 17.17%. The business had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.05 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. equities research analysts predict that Comcast Corporation will post 2.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 3rd will be issued a $0.157 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Tuesday, January 2nd. Comcast Corporation’s payout ratio is 30.36%.
In other news, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction 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 transaction, the director now 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 link. Also, EVP Arthur R. Block sold 4,091 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the transaction, the executive vice president now owns 68,478 shares of the company’s stock, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Institutional & Family Asset Management LLC raised its position in Comcast Corporation by 39.2% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 30,643 shares of the cable giant’s stock worth $1,179,000 after buying an additional 8,623 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Comcast Corporation during the 3rd quarter worth $2,323,000. Public Employees Retirement System of Ohio raised its position in Comcast Corporation by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,439,088 shares of the cable giant’s stock worth $132,336,000 after buying an additional 11,832 shares during the last quarter. Coastline Trust Co raised its position in Comcast Corporation by 1.3% during the 3rd quarter. Coastline Trust Co now owns 225,656 shares of the cable giant’s stock worth $8,684,000 after buying an additional 2,900 shares during the last quarter. Finally, Truepoint Inc. raised its position in Comcast Corporation by 3,748.0% during the 3rd quarter. Truepoint Inc. now owns 521,059 shares of the cable giant’s stock worth $521,000 after buying an additional 507,518 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.
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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