Comcast Co. (NASDAQ:CMCSA – Get Free Report) declared a quarterly dividend on Wednesday, May 15th, Zacks reports. Stockholders of record on Wednesday, July 3rd will be given a dividend of 0.31 per share by the cable giant on Wednesday, July 24th. This represents a $1.24 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, July 3rd.
Comcast has raised its dividend payment by an average of 8.2% annually over the last three years and has increased its dividend annually for the last 17 consecutive years. Comcast has a payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Comcast to earn $4.47 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 27.7%.
Comcast Trading Down 0.7 %
CMCSA stock traded down $0.29 during mid-day trading on Friday, reaching $39.08. 1,701,462 shares of the stock traded hands, compared to its average volume of 20,688,039. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast has a one year low of $36.43 and a one year high of $47.46. The stock has a market capitalization of $153.34 billion, a PE ratio of 10.36, a PEG ratio of 0.98 and a beta of 0.99. The business has a 50-day moving average price of $40.69 and a two-hundred day moving average price of $42.16.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on CMCSA shares. Macquarie dropped their target price on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday. Oppenheimer reissued an “outperform” rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday, April 3rd. Citigroup lowered their target price on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a report on Monday, April 29th. Wells Fargo & Company reduced their price target on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.33.
Read Our Latest Stock Analysis on CMCSA
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.
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