Comcast (CMCSA) Downgraded to “Buy” at BidaskClub

BidaskClub lowered shares of Comcast (NASDAQ:CMCSA) from a strong-buy rating to a buy rating in a report released on Thursday.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Comcast in a research report on Friday, October 12th. They set an overweight rating and a $42.00 target price for the company. ValuEngine upgraded shares of Comcast from a strong sell rating to a sell rating in a research report on Monday, September 17th. UBS Group lowered shares of Comcast from an outperform rating to a market perform rating in a research report on Monday, September 24th. KeyCorp lifted their target price on shares of Comcast from $38.00 to $43.00 and gave the company an overweight rating in a research report on Wednesday, September 26th. Finally, Moffett Nathanson reiterated a neutral rating and set a $36.00 target price on shares of Comcast in a research report on Monday, September 24th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $44.57.

NASDAQ:CMCSA traded up $0.04 during mid-day trading on Thursday, hitting $38.34. 17,819,159 shares of the stock traded hands, compared to its average volume of 25,346,701. The stock has a market cap of $175.24 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.19 and a beta of 0.93. Comcast has a 12-month low of $30.43 and a 12-month high of $44.00. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 25th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. Comcast had a net margin of 27.33% and a return on equity of 15.79%. The business had revenue of $22.14 billion during the quarter, compared to analyst estimates of $21.75 billion. On average, equities analysts forecast that Comcast will post 2.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 2nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 1.98%. Comcast’s dividend payout ratio is currently 36.89%.

In related news, EVP Arthur R. Block sold 1,082 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the sale, the executive vice president now directly owns 62,476 shares in the company, valued at approximately $2,245,387.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur R. Block sold 6,448 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $35.48, for a total transaction of $228,775.04. Following the sale, the executive vice president now owns 74,644 shares of the company’s stock, valued at $2,648,369.12. The disclosure for this sale can be found here. Corporate insiders own 1.31% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Boyar Asset Management Inc. grew its position in shares of Comcast by 1.3% in the 3rd quarter. Boyar Asset Management Inc. now owns 107,169 shares of the cable giant’s stock worth $3,795,000 after buying an additional 1,393 shares during the period. Robecosam AG grew its position in shares of Comcast by 18.1% in the 3rd quarter. Robecosam AG now owns 9,210 shares of the cable giant’s stock worth $324,000 after buying an additional 1,410 shares during the period. Carroll Financial Associates Inc. grew its position in shares of Comcast by 13.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 12,234 shares of the cable giant’s stock worth $401,000 after buying an additional 1,444 shares during the period. Aries Wealth Management grew its position in shares of Comcast by 11.6% in the 2nd quarter. Aries Wealth Management now owns 14,395 shares of the cable giant’s stock worth $515,000 after buying an additional 1,500 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of Comcast by 19.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 9,204 shares of the cable giant’s stock worth $325,000 after buying an additional 1,503 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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