Comcast Corporation (CMCSA) to Distribute Quarterly Dividend of $0.33 on October 28th

Comcast Corporation (NASDAQ:CMCSA) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Wednesday, October 7th will be paid a dividend of 0.33 per share by the cable giant on Wednesday, October 28th. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Wednesday, October 7th.

Comcast has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 18 years. Comcast has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Comcast to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 35.9%.

Comcast Trading Up 1.7%

NASDAQ:CMCSA opened at $22.30 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.87 and a current ratio of 0.80. The firm has a market cap of $79.66 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 1.81 and a beta of 0.67. Comcast has a 52 week low of $21.28 and a 52 week high of $34.45. The firm has a 50-day moving average price of $23.82 and a two-hundred day moving average price of $27.26.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping 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 firm earned $1.25 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts expect that Comcast will post 3.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CMCSA has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Morgan Stanley set a $29.00 price objective on Comcast in a research note on Friday. Evercore raised their target price on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. New Street Research lowered their target price on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and lowered their target price for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $32.96.

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.