Comcast (NASDAQ:CMCSA) Upgraded at Bank of America

Bank of America upgraded shares of Comcast (NASDAQ:CMCSA) from a neutral rating to a buy rating in a research report sent to investors on Monday, Marketbeat reports. They currently have $37.00 price target on the cable giant’s stock, up from their previous price target of $31.00.

Several other equities research analysts also recently commented on the company. BNP Paribas upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a report on Tuesday, November 4th. Scotiabank set a $37.50 price target on shares of Comcast in a research report on Wednesday, January 7th. Pivotal Research lowered their price objective on shares of Comcast from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 31st. TD Cowen reduced their price objective on shares of Comcast from $46.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Williams Trading set a $40.00 target price on shares of Comcast in a research report on Friday, October 31st. Twelve equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.98.

Comcast Trading Down 0.2%

CMCSA opened at $28.42 on Monday. The company has a fifty day moving average price of $28.07 and a two-hundred day moving average price of $30.90. Comcast has a 1-year low of $25.75 and a 1-year high of $38.40. The company has a market cap of $103.56 billion, a P/E ratio of 4.73, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 30th. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The company had revenue of $31.20 billion during the quarter, compared to the consensus estimate of $30.74 billion. During the same period last year, the business posted $1.12 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that Comcast will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, January 14th. This represents a $1.32 annualized dividend and a yield of 4.6%. Comcast’s payout ratio is 21.96%.

Institutional Investors Weigh In On Comcast

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital A Wealth Management LLC increased its position in shares of Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares during the last quarter. Imprint Wealth LLC bought a new position in Comcast in the 3rd quarter valued at $26,000. Cranbrook Wealth Management LLC increased its position in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Global Trust Asset Management LLC raised its stake in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the period. Finally, Avalon Trust Co boosted its holdings in shares of Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after buying an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.