Comcast (NASDAQ:CMCSA) Raised to “Buy” at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Comcast (NASDAQ:CMCSA) from a neutral rating to a buy rating in a report issued on Wednesday morning, Benzinga reports. They currently have $54.00 price objective on the cable giant’s stock, up from their previous price objective of $44.00.

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of PVH to $145.00 and gave the company an outperform rating in a report on Friday, March 29th. Pivotal Research reissued a buy rating and set a $54.00 target price on shares of Comcast in a report on Wednesday, June 26th. KeyCorp boosted their target price on shares of T-Mobile Us from $76.00 to $88.00 and gave the company an overweight rating in a report on Friday, April 26th. Morgan Stanley set a $10.00 target price on shares of Ford Motor and gave the company a hold rating in a report on Friday, April 26th. Finally, Macquarie assumed coverage on shares of Charter Communications in a report on Wednesday, June 19th. They set a hold rating and a $390.00 target price on the stock. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $44.92.

Comcast stock opened at $44.64 on Wednesday. Comcast has a 52 week low of $32.61 and a 52 week high of $45.01. The business’s 50 day moving average price is $42.45. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $200.06 billion, a PE ratio of 17.51, a P/E/G ratio of 1.23 and a beta of 1.07.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.08. Comcast had a net margin of 12.34% and a return on equity of 17.04%. The firm had revenue of $26.86 billion for the quarter, compared to analysts’ expectations of $27.27 billion. During the same quarter last year, the firm earned $0.66 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast will post 3.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 3rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, July 2nd. Comcast’s dividend payout ratio is presently 32.94%.

In other news, EVP Stephen B. Burke sold 457,633 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $43.35, for a total transaction of $19,838,390.55. Following the completion of the transaction, the executive vice president now directly owns 1,078,189 shares of the company’s stock, valued at $46,739,493.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David L. Cohen sold 4,468 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $42.00, for a total transaction of $187,656.00. Following the transaction, the executive vice president now directly owns 269,558 shares of the company’s stock, valued at $11,321,436. The disclosure for this sale can be found here. Insiders sold 469,307 shares of company stock valued at $20,327,244 over the last three months. 1.35% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of CMCSA. Norges Bank bought a new position in Comcast in the fourth quarter worth about $1,590,157,000. Nordea Investment Management AB raised its stake in Comcast by 67.5% in the first quarter. Nordea Investment Management AB now owns 17,274,883 shares of the cable giant’s stock worth $690,651,000 after buying an additional 6,960,677 shares in the last quarter. Geode Capital Management LLC raised its stake in Comcast by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock worth $2,165,450,000 after buying an additional 5,992,911 shares in the last quarter. FMR LLC raised its stake in Comcast by 3.9% in the fourth quarter. FMR LLC now owns 128,168,481 shares of the cable giant’s stock worth $4,364,136,000 after buying an additional 4,854,006 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Comcast by 16.2% in the fourth quarter. Legal & General Group Plc now owns 24,357,046 shares of the cable giant’s stock worth $829,376,000 after buying an additional 3,393,163 shares in the last quarter. 82.57% of the stock is owned by hedge funds and other institutional investors.

About Comcast

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

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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