Comcast (NASDAQ:CMCSA) Given New $39.00 Price Target at The Goldman Sachs Group

Comcast (NASDAQ:CMCSA) had its target price decreased by The Goldman Sachs Group from $40.00 to $39.00 in a report issued on Wednesday,MarketScreener reports. The Goldman Sachs Group currently has a buy rating on the cable giant’s stock.

Other analysts have also issued research reports about the stock. Morgan Stanley dropped their price objective on shares of Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. UBS Group decreased their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Citigroup reissued a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. Royal Bank Of Canada initiated coverage on shares of Comcast in a research report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price target for the company. Finally, Arete Research raised shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.19.

Comcast Trading Down 0.0%

NASDAQ CMCSA opened at $31.61 on Wednesday. Comcast has a one year low of $31.03 and a one year high of $45.31. The company’s 50 day moving average price is $33.25 and its 200 day moving average price is $34.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $116.71 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. On average, sell-side analysts predict that Comcast will post 4.33 EPS for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is currently 21.82%.

Hedge Funds Weigh In On Comcast

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Comcast by 0.3% during the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. State Street Corp boosted its holdings in shares of Comcast by 2.5% during the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock valued at $6,166,154,000 after acquiring an additional 4,231,140 shares during the period. Dodge & Cox boosted its holdings in shares of Comcast by 18.1% during the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after acquiring an additional 17,054,579 shares during the period. Norges Bank acquired a new position in shares of Comcast during the second quarter valued at $3,528,361,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Comcast by 7.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after acquiring an additional 2,517,906 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.