Comcast (NASDAQ:CMCSA) Sets New 1-Year Low After Analyst Downgrade

Comcast Corporation (NASDAQ:CMCSA)’s stock price hit a new 52-week low during trading on Wednesday after Moffett Nathanson lowered their price target on the stock from $53.00 to $52.00. Moffett Nathanson currently has a buy rating on the stock. Comcast traded as low as $23.03 and last traded at $23.2150, with a volume of 2196070 shares changing hands. The stock had previously closed at $23.66.

A number of other equities analysts have also commented on the stock. Scotiabank boosted their price target on shares of Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Friday, April 24th. Citigroup lifted their price objective on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research report on Friday, April 24th. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $34.52.

Institutional Investors Weigh In On Comcast

A number of institutional investors have recently modified their holdings of CMCSA. Imprint Wealth LLC bought a new position in Comcast during the 3rd quarter worth $26,000. United Financial Planning Group LLC bought a new position in Comcast in the 3rd quarter valued at about $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC raised its position in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares in the last quarter. Finally, Main Street Group LTD acquired a new stake in shares of Comcast in the 1st quarter valued at $27,000. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 1.6%

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average of $26.15 and a two-hundred day moving average of $28.28. The firm has a market capitalization of $83.18 billion, a P/E ratio of 4.58, a P/E/G ratio of 1.95 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion during the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, analysts anticipate that Comcast Corporation will post 3.53 EPS for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.7%. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

About Comcast

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.