Comcast (NASDAQ:CMCSA) Rating Increased to Buy at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Comcast (NASDAQ:CMCSA) from a neutral rating to a buy rating in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has $54.00 target price on the cable giant’s stock, up from their previous target price of $44.00.

Several other analysts have also issued reports on the stock. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Raymond James reiterated a hold rating on shares of Broadcom in a research note on Friday, June 14th. Morgan Stanley set a $10.00 target price on shares of Ford Motor and gave the stock a hold rating in a research note on Friday, April 26th. Guggenheim reiterated a hold rating on shares of Burlington Stores in a research note on Thursday, May 30th. Finally, Royal Bank of Canada upped their target price on shares of PVH to $145.00 and gave the stock an outperform rating in a research note on Friday, March 29th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $44.92.

NASDAQ CMCSA opened at $44.64 on Wednesday. Comcast has a 1 year low of $32.61 and a 1 year high of $45.01. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $202.60 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. The business has a fifty day moving average price of $42.45.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.08. Comcast had a net margin of 12.34% and a return on equity of 17.04%. The firm had revenue of $26.86 billion during the quarter, compared to analyst estimates of $27.27 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue was up 17.8% compared to the same quarter last year. Equities analysts forecast that Comcast will post 3.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.84 annualized dividend and a yield of 1.88%. Comcast’s payout ratio is currently 32.94%.

In other Comcast news, EVP David L. Cohen sold 4,468 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $42.00, for a total transaction of $187,656.00. Following the completion of the transaction, the executive vice president now owns 269,558 shares in the company, valued at $11,321,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Daniel C. Murdock sold 1,701 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the transaction, the senior vice president now owns 4,712 shares of the company’s stock, valued at approximately $195,359.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,307 shares of company stock valued at $20,327,244. 1.35% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. PDS Planning Inc purchased a new stake in shares of Comcast in the first quarter worth about $226,000. Resources Investment Advisors Inc. lifted its holdings in shares of Comcast by 26.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 5,395 shares of the cable giant’s stock worth $184,000 after buying an additional 1,117 shares in the last quarter. National Asset Management Inc. lifted its holdings in shares of Comcast by 5.3% in the fourth quarter. National Asset Management Inc. now owns 55,899 shares of the cable giant’s stock worth $1,906,000 after buying an additional 2,831 shares in the last quarter. Haverford Trust Co. lifted its holdings in shares of Comcast by 0.3% in the fourth quarter. Haverford Trust Co. now owns 3,110,244 shares of the cable giant’s stock worth $105,904,000 after buying an additional 8,001 shares in the last quarter. Finally, Lee Capital Holdings LLC lifted its holdings in shares of Comcast by 352.0% in the fourth quarter. Lee Capital Holdings LLC now owns 27,000 shares of the cable giant’s stock worth $919,000 after buying an additional 21,026 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

About Comcast

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

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