Comcast (NASDAQ:CMCSA) Price Target Cut to $28.00 by Analysts at BNP Paribas Exane

Comcast (NASDAQ:CMCSA) had its price target reduced by BNP Paribas Exane from $28.10 to $28.00 in a research note issued to investors on Tuesday,MarketScreener reports. They currently have a neutral rating on the cable giant’s stock.

Several other analysts also recently weighed in on CMCSA. Benchmark cut their price objective on shares of Comcast from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Royal Bank Of Canada cut their price target on Comcast from $32.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. KeyCorp lowered Comcast from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 30th. Oppenheimer set a $38.00 target price on Comcast in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Eleven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.47.

Comcast Trading Down 2.5%

Shares of NASDAQ CMCSA opened at $28.70 on Tuesday. Comcast has a 12-month low of $25.75 and a 12-month high of $38.17. The company has a market cap of $104.58 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock’s 50 day simple moving average is $28.28 and its 200 day simple moving average is $30.42.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 30th. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $31.20 billion for the quarter, compared to analyst estimates of $30.74 billion. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company earned $1.12 earnings per share. Equities research 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. Investors of record on Wednesday, January 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a $1.32 annualized dividend and a yield of 4.6%. Comcast’s dividend payout ratio (DPR) is currently 21.96%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC lifted its stake in 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. Imprint Wealth LLC acquired a new stake in shares of Comcast during the third quarter valued at approximately $26,000. Global Trust Asset Management LLC lifted its position in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 671 shares in the last quarter. Avalon Trust Co boosted its stake in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the period. Finally, United Financial Planning Group LLC purchased a new position in Comcast during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Comcast

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.