Comcast Corporation (NASDAQ:CMCSA) Stock Has Average Price Target of $28.77

Shares of Comcast Corporation (NASDAQ:CMCSA) have received an average rating of “Hold” from the twenty-seven brokerages that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $28.77.

CMCSA has been the subject of a number of recent research reports. Weiss Ratings raised shares of Comcast from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $23.00 price objective on shares of Comcast in a research report on Tuesday, October 13th. Scotiabank reduced their target price on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a research note on Friday, October 2nd. Rosenblatt Securities restated a “buy” rating and issued a $31.00 target price on shares of Comcast in a research report on Monday, October 19th. Finally, Moffett Nathanson cut their price target on Comcast from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd.

Institutional Trading of Comcast

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP grew its holdings in shares of Comcast by 8.1% during the 3rd quarter. Marshall Wace LLP now owns 43,995 shares of the cable giant’s stock valued at $957,000 after acquiring an additional 3,314 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Comcast by 38.2% during the third quarter. Empowered Funds LLC now owns 1,546,766 shares of the cable giant’s stock worth $33,658,000 after acquiring an additional 427,139 shares in the last quarter. United Southern Bank Trust Department purchased a new stake in shares of Comcast during the third quarter worth $780,000. Roberts Glore & Co. Inc. IL grew its stake in Comcast by 2.0% in the third quarter. Roberts Glore & Co. Inc. IL now owns 20,675 shares of the cable giant’s stock valued at $450,000 after purchasing an additional 400 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its stake in Comcast by 6.6% in the third quarter. Tocqueville Asset Management L.P. now owns 77,745 shares of the cable giant’s stock valued at $1,692,000 after purchasing an additional 4,840 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Up 1.5%

CMCSA stock opened at $25.16 on Wednesday. Comcast has a twelve month low of $20.48 and a twelve month high of $32.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $89.34 billion, a P/E ratio of 6.63, a PEG ratio of 1.75 and a beta of 0.72. The firm has a 50 day simple moving average of $22.96 and a 200-day simple moving average of $25.89.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. The business had revenue of $29.30 billion during the quarter, compared to the consensus estimate of $29.22 billion. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. On average, equities research analysts predict that Comcast will post 3.54 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Shareholders of record on Wednesday, January 6th will be given a $0.33 dividend. The ex-dividend date is Wednesday, January 6th. This represents a $1.32 annualized dividend and a yield of 5.2%. Comcast’s payout ratio is 41.77%.

About Comcast

Comcast Corporation is a media and telecommunications company whose businesses include broadband, cable television, wireless and voice services, as well as entertainment, news and theme parks. Its Xfinity brand offers residential and business connectivity and entertainment services in the United States. Through NBCUniversal, Comcast operates the NBC broadcast network, cable channels, the Peacock streaming service, Universal Pictures and Universal theme parks. The company also owns Sky, which provides television, broadband and related services in the United Kingdom and other European markets.