Comcast (NASDAQ:CMCSA) Sets New 52-Week Low on Analyst Downgrade

Comcast Corporation (NASDAQ:CMCSA) reached a new 52-week low on Wednesday after Loop Capital lowered their price target on the stock from $44.00 to $43.00. Loop Capital currently has a buy rating on the stock. Comcast traded as low as $30.99 and last traded at $31.24, with a volume of 2008780 shares trading hands. The stock had previously closed at $31.42.

A number of other brokerages have also recently commented on CMCSA. Benchmark reiterated a “buy” rating on shares of Comcast in a report on Friday, July 18th. Moffett Nathanson increased their target price on Comcast from $56.00 to $58.00 and gave the company a “buy” rating in a report on Friday, September 12th. The Goldman Sachs Group decreased their price objective on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Bank of America decreased their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Rothschild & Co Redburn decreased their price objective on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price of $40.07.

Hedge Funds Weigh In On Comcast

A number of large investors have recently modified their holdings of CMCSA. Capital A Wealth Management LLC increased its position in Comcast by 173.7% during the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares in the last quarter. Inlight Wealth Management LLC purchased a new stake in Comcast during the first quarter worth approximately $26,000. Global Trust Asset Management LLC increased its position in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after acquiring an additional 671 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares in the last quarter. Finally, Avalon Trust Co increased its position in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after acquiring an additional 624 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Stock Down 1.5%

The firm’s 50-day moving average price is $32.89 and its 200-day moving average price is $34.24. The company has a market cap of $114.24 billion, a price-to-earnings ratio of 5.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a yield of 4.3%. Comcast’s dividend payout ratio (DPR) is 21.82%.

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.