Comcast (NASDAQ:CMCSA) Given New $48.00 Price Target at TD Cowen

Comcast (NASDAQ:CMCSA) had its price target trimmed by TD Cowen from $50.00 to $48.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the cable giant’s stock.

A number of other equities research analysts have also commented on CMCSA. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $47.75 to $48.00 in a report on Friday. KeyCorp upped their price target on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday. Macquarie reiterated a “neutral” rating and set a $40.00 price target on shares of Comcast in a report on Friday. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Comcast in a report on Wednesday. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.63.

Comcast Trading Down 0.3 %

Shares of Comcast stock traded down $0.11 during trading on Friday, reaching $43.56. The company’s stock had a trading volume of 25,078,455 shares, compared to its average volume of 19,681,141. Comcast has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a market cap of $168.69 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.11 and a beta of 1.01. The firm’s 50-day moving average is $40.80 and its two-hundred day moving average is $39.58. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that Comcast will post 4.24 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. Comcast’s payout ratio is 32.98%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Ontario Teachers Pension Plan Board grew its position in Comcast by 25,881.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock valued at $470,391,000 after purchasing an additional 10,809,231 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Capital World Investors grew its position in Comcast by 7.4% during the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after purchasing an additional 7,929,963 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Comcast by 80.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after acquiring an additional 4,714,586 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Comcast by 92.1% during the 2nd quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock valued at $339,223,000 after acquiring an additional 4,182,525 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

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.