Comcast (NASDAQ:CMCSA) Sets New 52-Week Low at $38.21

Comcast Co. (NASDAQ:CMCSAGet Rating) shares hit a new 52-week low on Thursday . The stock traded as low as $38.21 and last traded at $38.26, with a volume of 562910 shares. The stock had previously closed at $40.13.

CMCSA has been the subject of several recent analyst reports. StockNews.com upgraded shares of Comcast from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 10th. TD Securities cut their target price on Comcast from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, April 29th. Truist Financial downgraded Comcast from a “buy” rating to a “hold” rating and decreased their price target for the company from $70.00 to $50.00 in a research note on Tuesday, March 1st. Benchmark cut their price objective on Comcast from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, June 2nd. Finally, Barclays decreased their target price on shares of Comcast from $56.00 to $48.00 in a research report on Friday, April 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $58.38.

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.02. The firm has a market cap of $172.40 billion, a PE ratio of 12.95, a P/E/G ratio of 0.87 and a beta of 0.96. The stock’s 50 day moving average price is $43.37 and its 200 day moving average price is $46.76.

Comcast (NASDAQ:CMCSAGet Rating) last posted its earnings results on Thursday, April 28th. The cable giant reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $31.01 billion during the quarter, compared to analyst estimates of $30.40 billion. Comcast had a return on equity of 15.92% and a net margin of 11.96%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Analysts forecast that Comcast Co. will post 3.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.08 annualized dividend and a yield of 2.84%. Comcast’s dividend payout ratio is presently 34.84%.

In other Comcast news, CAO Daniel C. Murdock sold 8,929 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $44.50, for a total transaction of $397,340.50. Following the transaction, the chief accounting officer now directly owns 1,817 shares in the company, valued at approximately $80,856.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.11% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Morgan Stanley raised its stake in shares of Comcast by 10.9% during the second quarter. Morgan Stanley now owns 40,850,065 shares of the cable giant’s stock valued at $2,329,271,000 after purchasing an additional 3,998,777 shares in the last quarter. Keudell Morrison Wealth Management boosted its holdings in shares of Comcast by 1.5% in the third quarter. Keudell Morrison Wealth Management now owns 27,615 shares of the cable giant’s stock valued at $1,545,000 after acquiring an additional 411 shares in the last quarter. Tudor Investment Corp Et Al increased its stake in shares of Comcast by 1.3% during the third quarter. Tudor Investment Corp Et Al now owns 104,726 shares of the cable giant’s stock valued at $5,857,000 after acquiring an additional 1,356 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Comcast by 22.4% during the third quarter. Cubist Systematic Strategies LLC now owns 83,676 shares of the cable giant’s stock worth $4,680,000 after purchasing an additional 15,338 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its position in Comcast by 7.0% in the third quarter. Beacon Pointe Advisors LLC now owns 56,650 shares of the cable giant’s stock worth $3,168,000 after purchasing an additional 3,727 shares during the period. 83.33% of the stock is owned by institutional investors and hedge funds.

About Comcast (NASDAQ:CMCSA)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

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