Comcast (NASDAQ:CMCSA) Price Target Lowered to $36.00 at Bank of America

Comcast (NASDAQ:CMCSA) had its price objective cut by Bank of America from $38.00 to $36.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the cable giant’s stock.

A number of other research analysts have also recently weighed in on the company. Royal Bank Of Canada began coverage on Comcast in a research report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price objective on the stock. UBS Group lowered their price objective on Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Scotiabank lifted their price objective on Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Arete Research raised Comcast to a “hold” rating in a research report on Tuesday, July 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.11.

Comcast Trading Down 0.7%

Comcast stock opened at $31.49 on Monday. The business has a 50-day simple moving average of $33.06 and a two-hundred day simple moving average of $34.28. The company has a market cap of $116.27 billion, a P/E ratio of 5.20, a P/E/G ratio of 1.90 and a beta of 0.93. Comcast has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results 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 business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. Analysts predict that Comcast will post 4.33 EPS for the current year.

Comcast Dividend Announcement

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

Institutional Trading of Comcast

A number of hedge funds have recently modified their holdings of the stock. Capital A Wealth Management LLC boosted its stake in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after buying an additional 436 shares during the last quarter. Caldwell Trust Co purchased a new stake in shares of Comcast in the second quarter worth about $155,000. Milestones Private Investment Advisors LLC purchased a new stake in shares of Comcast in the second quarter worth about $282,000. Osaic Holdings Inc. boosted its stake in shares of Comcast by 39.9% in the second quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant’s stock worth $37,954,000 after buying an additional 300,898 shares during the last quarter. Finally, Total Investment Management Inc. purchased a new stake in shares of Comcast in the second quarter worth about $33,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

About Comcast

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.