Comcast (NASDAQ:CMCSA) Price Target Cut to $50.00

Comcast (NASDAQ:CMCSA – Get Rating) had its price objective lowered by Morgan Stanley from $55.00 to $50.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a maintains rating on the cable giant’s stock.

Other research analysts have also recently issued reports about the stock. Pivotal Research dropped their target price on shares of Comcast from $55.00 to $47.00 and set a buy rating for the company in a report on Friday. Benchmark dropped their target price on shares of Comcast from $65.00 to $60.00 and set a buy rating for the company in a report on Thursday, June 2nd. Barclays dropped their target price on shares of Comcast from $56.00 to $48.00 in a report on Friday, April 29th. Wolfe Research cut shares of Comcast from a peer perform rating to an underperform rating and set a $39.00 target price for the company. in a report on Friday. Finally, Daiwa Capital Markets initiated coverage on shares of Comcast in a report on Friday, July 1st. They issued an outperform rating and a $43.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of Hold and an average price target of $52.04.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $37.51 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The company has a market cap of $170.04 billion, a P/E ratio of 12.26, a PEG ratio of 0.76 and a beta of 0.91. Comcast has a 52 week low of $36.57 and a 52 week high of $61.80. The company has a 50-day moving average price of $40.92 and a 200 day moving average price of $44.39.

Comcast (NASDAQ:CMCSA – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The cable giant reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. The firm had revenue of $30.02 billion during the quarter, compared to the consensus estimate of $29.72 billion. Comcast had a net margin of 11.54% and a return on equity of 16.67%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. Research analysts predict that Comcast will post 3.61 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a $0.27 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $1.08 annualized dividend and a yield of 2.88%. Comcast’s payout ratio is currently 35.29%.

Insiders Place Their Bets

In other Comcast news, CAO Daniel C. Murdock sold 8,929 shares of Comcast stock in a transaction on Friday, May 27th. The shares were sold at an average price of $44.50, for a total value of $397,340.50. Following the transaction, the chief accounting officer now owns 1,817 shares in the company, valued at approximately $80,856.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Comcast

Hedge funds have recently made changes to their positions in the stock. Baker Tilly Wealth Management LLC lifted its holdings in shares of Comcast by 40.7% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 73,266 shares of the cable giant’s stock valued at $3,430,000 after acquiring an additional 21,211 shares in the last quarter. WC Walker & Associates Inc. lifted its holdings in shares of Comcast by 1.5% during the 1st quarter. WC Walker & Associates Inc. now owns 50,498 shares of the cable giant’s stock valued at $2,419,000 after acquiring an additional 740 shares in the last quarter. Cooper Financial Group lifted its holdings in shares of Comcast by 5.1% during the 1st quarter. Cooper Financial Group now owns 7,803 shares of the cable giant’s stock valued at $365,000 after acquiring an additional 382 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Comcast by 1.4% in the 1st quarter. New York State Common Retirement Fund now owns 11,590,939 shares of the cable giant’s stock worth $542,688,000 after buying an additional 155,051 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Comcast by 0.6% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 43,031 shares of the cable giant’s stock worth $2,015,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

About Comcast

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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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