Comcast (NASDAQ:CMCSA) Sets New 52-Week Low – What’s Next?

Comcast Co. (NASDAQ:CMCSA) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $36.29 and last traded at $36.35, with a volume of 1329002 shares. The stock had previously closed at $36.87.

Analysts Set New Price Targets

CMCSA has been the subject of several analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, November 6th. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Loop Capital lowered their target price on shares of Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. KeyCorp raised their price target on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Pivotal Research boosted their price objective on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.33.

Comcast Trading Down 0.0 %

The company has a fifty day moving average of $40.83 and a 200-day moving average of $40.25. The company has a market capitalization of $142.23 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.50 and a beta of 1.01. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. As a group, equities research analysts anticipate that Comcast Co. will post 4.26 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 3.34%. Comcast’s payout ratio is 33.33%.

Insiders Place Their Bets

In related news, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in Comcast by 5.4% in the third quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after buying an additional 6,062,658 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Comcast by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after buying an additional 1,000,626 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Comcast by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock worth $1,331,192,000 after acquiring an additional 416,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Comcast by 6.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock valued at $1,268,310,000 after acquiring an additional 1,717,762 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of Comcast by 5.4% during the third quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after acquiring an additional 822,936 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

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.