Comcast (CMCSA) Given Buy Rating at Pivotal Research
Pivotal Research reissued their buy rating on shares of Comcast (NASDAQ:CMCSA) in a research note issued to investors on Wednesday morning. Pivotal Research currently has a $113.00 price objective on the cable giant’s stock.
“We see plenty of room for medium to long term cable data sub growth, taking share from the ~22M telco DSL based telco data subs. Aggressive telco promotions, in our view, simply temporarily halt the inevitable swap to cable if you believe, as we do, that consumer bandwidth needs continue to rise. PAY TV TRENDS CONTINUE TO BE WEAK (-3.6% Y/Y); CAN MEDIA COMPANIES REALLY OFFSET THIS WITH PRICE INCREASES OR ARE THEY GOING TO KILL THE GOLDEN GOOSE? – Including, private operators we estimate that the PayTV industry lost (-530K) subs in 4Q better than our (-640K) forecast. The 4Q result represented the 6 th straight quarter of accelerating % y/y declines in total PayTV subs, a trend we expect to moderate slightly in 1Q’18. Cable saw a +17% y/y increase in PayTV subscriber losses to (-123K) nicely better than our (-260K) forecast driven mainly by CHTR.”,” the firm’s analyst wrote.
A number of other equities analysts also recently commented on CMCSA. Macquarie downgraded Comcast from an outperform rating to a neutral rating in a research report on Wednesday. Nomura reiterated a neutral rating and set a $42.00 price objective (down previously from $45.00) on shares of Comcast in a research report on Thursday, January 18th. BidaskClub downgraded Comcast from a hold rating to a sell rating in a research report on Friday, February 23rd. Scotiabank set a $52.00 price objective on Comcast and gave the stock a buy rating in a research report on Friday, January 19th. Finally, TD Securities lifted their price objective on Comcast from $51.00 to $52.00 and gave the stock a buy rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $50.39.
Comcast (NASDAQ:CMCSA) last released its earnings results on Wednesday, January 24th. The cable giant reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $21.92 billion for the quarter, compared to the consensus estimate of $21.83 billion. Comcast had a return on equity of 16.47% and a net margin of 26.87%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. sell-side analysts expect that Comcast will post 2.5 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Wednesday, April 4th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, April 3rd. This is a boost from Comcast’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.08%. Comcast’s payout ratio is presently 30.00%.
In other news, Chairman Brian L. Roberts sold 583,835 shares of Comcast stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.67, for a total value of $22,576,899.45. Following the completion of the sale, the chairman now directly owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur R. Block sold 3,937 shares of Comcast stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $40.62, for a total value of $159,920.94. Following the completion of the sale, the executive vice president now directly owns 65,946 shares of the company’s stock, valued at $2,678,726.52. The disclosure for this sale can be found here. Insiders sold 784,158 shares of company stock valued at $31,070,439 over the last ninety days. Insiders own 1.28% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in Comcast during the 4th quarter worth $102,000. Wealthcare Advisory Partners LLC purchased a new stake in Comcast during the 3rd quarter worth about $104,000. Vigilant Capital Management LLC lifted its holdings in Comcast by 474.2% during the 4th quarter. Vigilant Capital Management LLC now owns 2,584 shares of the cable giant’s stock worth $104,000 after buying an additional 2,134 shares during the last quarter. Clear Perspective Advisors LLC lifted its holdings in Comcast by 100.1% during the 2nd quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock worth $106,000 after buying an additional 1,362 shares during the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in Comcast during the 2nd quarter worth about $107,000. 82.26% of the stock is owned by institutional investors and hedge funds.
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Comcast Company Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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