Comcast (NASDAQ:CMCSA) Issues Earnings Results

Comcast (NASDAQ:CMCSA) posted its quarterly earnings data on Tuesday. The cable giant reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09, Briefing.com reports. The business had revenue of $29.69 billion for the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share.

Comcast Stock Up 0.4 %

Shares of NASDAQ:CMCSA opened at $38.24 on Friday. The company has a market capitalization of $150.04 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.95 and a beta of 1.00. Comcast has a 12-month low of $36.43 and a 12-month high of $47.46. The business has a 50-day moving average price of $38.53 and a 200 day moving average price of $40.69. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CMCSA. Pivotal Research decreased their price target on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays lowered their price target on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday. Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Monday, May 13th. Finally, KeyCorp reduced their target price on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.28.

Insider Buying and Selling at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

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.