Comcast (NASDAQ:CMCSA) Given New $43.00 Price Target at Loop Capital

Comcast (NASDAQ:CMCSA) had its target price cut by Loop Capital from $44.00 to $43.00 in a report published on Wednesday morning,MarketScreener reports. They currently have a buy rating on the cable giant’s stock.

A number of other analysts have also recently commented on the company. Citigroup reiterated a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. Bank of America reduced their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday. Scotiabank upped 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. Royal Bank Of Canada initiated coverage on Comcast in a research report on Monday, September 8th. They set a “sector perform” rating and a $38.00 price objective for the company. Finally, Arete Research upgraded Comcast to a “hold” rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $40.07.

Comcast Stock Down 1.5%

CMCSA stock opened at $30.94 on Wednesday. Comcast has a 1-year low of $30.90 and a 1-year high of $45.31. The business has a fifty day moving average price of $32.89 and a 200-day moving average price of $34.24. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $114.24 billion, a P/E ratio of 5.11, a P/E/G ratio of 1.84 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.Comcast’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities analysts forecast that Comcast will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed 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 of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. Comcast’s dividend payout ratio is 21.82%.

Hedge Funds Weigh In On Comcast

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. State Street Corp boosted its stake in shares of Comcast by 2.5% in the second quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after acquiring an additional 4,231,140 shares during the period. Dodge & Cox boosted its stake in shares of Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock worth $3,971,309,000 after acquiring an additional 17,054,579 shares during the period. Norges Bank bought a new position in shares of Comcast in the second quarter worth about $3,528,361,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Comcast by 7.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after acquiring an additional 2,517,906 shares during the period. 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.