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

Comcast Corporation (NASDAQ:CMCSA)’s share price hit a new 52-week low on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $46.00 to $44.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Comcast traded as low as $30.30 and last traded at $30.72, with a volume of 22232414 shares changing hands. The stock had previously closed at $31.09.

A number of other analysts also recently commented on the company. Scotiabank reissued a “sector perform” rating and issued a $45.50 price objective (up previously from $45.00) on shares of Comcast in a research note on Monday. The Goldman Sachs Group decreased their price target on Comcast from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Rosenblatt Securities lifted their price target on Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Barclays cut their price objective on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Comcast in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Comcast has a consensus rating of “Hold” and a consensus target price of $39.94.

Institutional Inflows and Outflows

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

Comcast Stock Down 1.6%

The business has a 50 day simple moving average of $32.64 and a 200 day simple moving average of $34.07. 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 cap of $112.98 billion, a PE ratio of 5.06, a P/E/G ratio of 1.83 and a beta of 0.94.

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

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders 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 yield of 4.3%. Comcast’s payout ratio is 21.82%.

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.