Comcast Corporation (NASDAQ:CMCSA) Sees Significant Drop in Short Interest
Comcast Corporation (NASDAQ:CMCSA) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 50,064,711 shares, a decrease of 15.8% from the July 14th total of 59,436,654 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average trading volume of 19,418,770 shares, the days-to-cover ratio is currently 2.6 days.
A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Comcast Corporation from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 1st. Guggenheim upgraded Comcast Corporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $42.00 to $46.00 in a research note on Thursday, August 3rd. BidaskClub lowered Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Instinet reiterated a “buy” rating and issued a $46.00 target price on shares of Comcast Corporation in a research note on Wednesday, June 28th. Finally, Credit Suisse Group increased their target price on Comcast Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.69.
Comcast Corporation (CMCSA) opened at 41.11 on Friday. Comcast Corporation has a 12-month low of $30.02 and a 12-month high of $42.18. The company has a market cap of $193.77 billion, a P/E ratio of 20.71 and a beta of 1.01. The firm’s 50-day moving average price is $39.47 and its 200-day moving average price is $38.77.
Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The firm had revenue of $21.17 billion for the quarter, compared to analyst estimates of $20.85 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts expect that Comcast Corporation will post $2.04 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a yield of 1.53%. Comcast Corporation’s dividend payout ratio is 31.74%.
In other Comcast Corporation news, SVP Daniel C. Murdock sold 3,659 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $39.61, for a total transaction of $144,932.99. Following the completion of the sale, the senior vice president now directly owns 725 shares in the company, valued at $28,717.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth J. Bacon sold 7,500 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $40.50, for a total value of $303,750.00. Following the sale, the director now owns 26,812 shares of the company’s stock, valued at $1,085,886. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
A number of institutional investors have recently modified their holdings of CMCSA. Patriot Financial Group Insurance Agency LLC raised its position in shares of Comcast Corporation by 100.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock valued at $100,000 after buying an additional 1,340 shares in the last quarter. OLD Second National Bank of Aurora raised its position in shares of Comcast Corporation by 56.5% in the first quarter. OLD Second National Bank of Aurora now owns 2,696 shares of the cable giant’s stock valued at $101,000 after buying an additional 973 shares in the last quarter. First Bank & Trust raised its position in shares of Comcast Corporation by 84.9% in the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock valued at $111,000 after buying an additional 1,302 shares in the last quarter. Zions Bancorporation raised its position in shares of Comcast Corporation by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock valued at $106,000 after buying an additional 410 shares in the last quarter. Finally, Orrstown Financial Services Inc. raised its position in shares of Comcast Corporation by 159.3% in the first quarter. Orrstown Financial Services Inc. now owns 2,860 shares of the cable giant’s stock valued at $108,000 after buying an additional 1,757 shares in the last quarter. Hedge funds and other institutional investors own 82.32% of the company’s stock.
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Comcast Corporation 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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