TD Cowen Cuts Comcast (NASDAQ:CMCSA) Price Target to $40.00

Comcast (NASDAQ:CMCSA) had its price objective cut by TD Cowen from $46.00 to $40.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the cable giant’s stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Tuesday, October 14th. JPMorgan Chase & Co. reduced their price target on Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank Of Canada began coverage on Comcast in a report on Monday, September 8th. They issued a “sector perform” rating and a $38.00 price target for the company. Evercore ISI reduced their price target on Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Friday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Comcast in a report on Friday. Eleven research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.74.

Comcast Stock Performance

Shares of CMCSA stock opened at $27.83 on Friday. The stock has a market cap of $102.75 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 1.89 and a beta of 0.94. The business has a 50-day simple moving average of $31.40 and a 200-day simple moving average of $33.32. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast has a 52-week low of $25.75 and a 52-week high of $45.31.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $30.34 billion during the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. On average, equities analysts expect that Comcast will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. Comcast’s dividend payout ratio is presently 21.96%.

Hedge Funds Weigh In On Comcast

A number of hedge funds have recently made changes to their positions in CMCSA. Norges Bank acquired a new position in shares of Comcast during the second quarter valued at approximately $3,528,361,000. Nuveen LLC purchased a new stake in shares of Comcast in the first quarter valued at approximately $940,015,000. Dodge & Cox grew its position 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 valued at $3,971,309,000 after purchasing an additional 17,054,579 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock valued at $488,140,000 after purchasing an additional 12,586,329 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Comcast by 133.1% in the second quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock valued at $363,580,000 after purchasing an additional 5,817,614 shares in the last quarter. 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.