Comcast (NASDAQ:CMCSA) Price Target Cut to $48.00 by Analysts at TD Cowen

Comcast (NASDAQ:CMCSA) had its price objective lowered by TD Cowen from $50.00 to $48.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the cable giant’s stock.

A number of other brokerages also recently weighed in on CMCSA. Pivotal Research lowered their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $47.75 to $48.00 in a research note on Friday. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.63.

Comcast Price Performance

NASDAQ:CMCSA traded down $0.11 on Friday, hitting $43.56. The company had a trading volume of 25,078,455 shares, compared to its average volume of 19,681,141. The stock has a market capitalization of $168.69 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.11 and a beta of 1.01. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $40.80 and a two-hundred day moving average of $39.58. Comcast has a 52 week low of $36.43 and a 52 week high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 earnings per share. On average, research analysts anticipate that Comcast will post 4.24 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is 32.98%.

Institutional Trading of Comcast

Several hedge funds have recently added to or reduced their stakes in CMCSA. Capital World Investors raised its position in shares of Comcast by 7.4% in the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Comcast by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock valued at $1,500,722,000 after purchasing an additional 1,000,626 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Comcast by 41.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares during the period. Ontario Teachers Pension Plan Board raised its position in shares of Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares during the period. Finally, First Pacific Advisors LP grew its stake in Comcast by 2.1% during the second quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock valued at $423,633,000 after acquiring an additional 219,894 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.