Comcast (NASDAQ:CMCSA) Price Target Cut to $27.00 by Analysts at Royal Bank Of Canada

Comcast (NASDAQ:CMCSA) had its price target cut by Royal Bank Of Canada from $32.00 to $27.00 in a report released on Monday,Benzinga reports. They currently have a sector perform rating on the cable giant’s stock.

Several other research firms have also issued reports on CMCSA. UBS Group reissued a “neutral” rating on shares of Comcast in a research note on Tuesday, June 23rd. BNP Paribas Exane decreased their target price on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 14th. Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Scotiabank dropped their price target on Comcast from $36.00 to $32.75 and set a “sector perform” rating for the company in a research report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.45.

Comcast Stock Performance

NASDAQ CMCSA opened at $23.78 on Monday. Comcast has a 1 year low of $22.13 and a 1 year high of $36.01. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $84.95 billion, a PE ratio of 4.68, a P/E/G ratio of 1.96 and a beta of 0.67. The company’s 50 day simple moving average is $23.98 and its two-hundred day simple moving average is $27.44.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS. Analysts predict that Comcast will post 3.48 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. Comcast’s dividend payout ratio (DPR) is presently 25.98%.

Hedge Funds Weigh In On Comcast

Hedge funds and other institutional investors have recently modified their holdings of the company. Allied Private Wealth LLC bought a new stake in Comcast in the 2nd quarter worth approximately $26,000. Imprint Wealth LLC bought a new position in Comcast during the third quarter valued at approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Comcast during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC raised its stake in shares of Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after acquiring an additional 401 shares in the last quarter. Finally, Main Street Group LTD purchased a new position in shares of Comcast during the first quarter worth approximately $27,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.