Comcast Corporation (NASDAQ:CMCSA) Receives $32.96 Average Price Target from Analysts

Comcast Corporation (NASDAQ:CMCSA) has received an average rating of “Hold” from the twenty-eight research firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.9615.

Several equities research analysts have recently issued reports on the stock. Seaport Research Partners upgraded shares of Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Morgan Stanley set a $29.00 price target on shares of Comcast in a research report on Friday, July 24th. Scotiabank set a $29.00 target price on shares of Comcast in a research note on Friday, July 24th. Weiss Ratings downgraded shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, Moffett Nathanson dropped their target price on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th.

Institutional Investors Weigh In On Comcast

A number of large investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after buying an additional 99,986 shares during the period. Voya Financial Advisors Inc. boosted its stake in Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after acquiring an additional 2,593 shares in the last quarter. United Bank increased its holdings in shares of Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after acquiring an additional 4,290 shares during the period. HUB Investment Partners LLC raised its stake in shares of Comcast by 119.4% during the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock worth $606,000 after purchasing an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of Comcast by 66.8% during the 2nd quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after purchasing an additional 15,865 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Down 1.2%

CMCSA stock opened at $26.30 on Friday. The stock has a market cap of $93.33 billion, a P/E ratio of 8.51, a PEG ratio of 1.89 and a beta of 0.68. Comcast has a twelve month low of $21.28 and a twelve month high of $34.45. The business’s 50-day moving average price is $24.63 and its 200-day moving average price is $26.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Comcast will post 3.52 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 7th. Comcast’s payout ratio is presently 42.72%.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.