Comcast (CMCSA) Trading Down 0.8% After Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA) shares traded down 0.8% during mid-day trading on Tuesday after TD Securities lowered their price target on the stock from $48.00 to $47.00. TD Securities currently has a buy rating on the stock. Comcast traded as low as $34.75 and last traded at $35.64. 1,647,236 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 18,286,256 shares. The stock had previously closed at $35.93.

Other analysts have also recently issued reports about the stock. BidaskClub raised shares of Comcast from a “sell” rating to a “hold” rating in a research note on Friday, June 15th. Pivotal Research reissued a “buy” rating on shares of Comcast in a research note on Friday, August 10th. Jefferies Financial Group began coverage on shares of Comcast in a research note on Thursday, June 7th. They set a “buy” rating and a $41.00 price target on the stock. Moffett Nathanson reissued a “neutral” rating and set a $36.00 price target on shares of Comcast in a research note on Monday. Finally, Raymond James raised shares of Comcast from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Comcast has a consensus rating of “Buy” and a consensus price target of $44.88.

Several large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Comcast by 9.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 148,275,122 shares of the cable giant’s stock valued at $4,864,907,000 after buying an additional 12,823,994 shares in the last quarter. FMR LLC raised its position in shares of Comcast by 7.5% in the 2nd quarter. FMR LLC now owns 111,854,932 shares of the cable giant’s stock valued at $3,669,961,000 after buying an additional 7,812,415 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Comcast by 24.1% in the 1st quarter. Franklin Resources Inc. now owns 37,387,405 shares of the cable giant’s stock valued at $1,277,535,000 after buying an additional 7,257,371 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Comcast by 108.8% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 33,898,474 shares of the cable giant’s stock valued at $1,158,311,000 after buying an additional 17,663,290 shares in the last quarter. Finally, Boston Partners raised its position in shares of Comcast by 23.7% in the 2nd quarter. Boston Partners now owns 22,787,062 shares of the cable giant’s stock valued at $747,643,000 after buying an additional 4,358,705 shares in the last quarter. Institutional investors and hedge funds own 80.10% of the company’s stock.

The stock has a market cap of $176.03 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 26th. The cable giant reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Comcast had a net margin of 27.42% and a return on equity of 15.92%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. equities research analysts forecast that Comcast Co. will post 2.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Wednesday, October 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, October 2nd. Comcast’s payout ratio is 36.89%.

About Comcast (NASDAQ:CMCSA)

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

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