Comcast (NASDAQ:CMCSA) Price Target Raised to $50.00

Comcast (NASDAQ:CMCSA) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $49.00 to $50.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the cable giant’s stock.

Several other brokerages have also issued reports on CMCSA. Barclays decreased their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $47.75 to $48.00 in a research note on Friday. TD Cowen cut their price target on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Finally, Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Comcast in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.63.

Comcast Stock Down 0.3 %

NASDAQ CMCSA traded down $0.11 on Friday, reaching $43.56. The company had a trading volume of 25,078,455 shares, compared to its average volume of 19,681,141. The stock has a market capitalization of $168.69 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.11 and a beta of 1.01. The company’s fifty day moving average is $40.80 and its 200 day moving average is $39.58. Comcast has a 52-week low of $36.43 and a 52-week high of $47.11. 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 earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same period last year, the firm posted $1.08 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Comcast will post 4.24 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

Hedge Funds Weigh In On Comcast

A number of large investors have recently bought and sold shares of CMCSA. Ontario Teachers Pension Plan Board boosted its position in shares of Comcast by 25,881.7% during the first 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in Comcast by 41.7% during the first 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 acquiring an additional 8,243,302 shares during the last quarter. Capital World Investors increased its position in Comcast by 7.4% during the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after acquiring an additional 7,929,963 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Comcast by 80.9% in the first quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock worth $457,007,000 after buying an additional 4,714,586 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Comcast by 92.1% in the second quarter. AQR Capital Management LLC now owns 8,722,620 shares of the cable giant’s stock worth $339,223,000 after buying an additional 4,182,525 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.