Comcast (NASDAQ:CMCSA) Downgraded to Neutral at Redburn Partners

Redburn Partners lowered shares of Comcast (NASDAQ:CMCSA – Get Rating) from a buy rating to a neutral rating in a report released on Friday morning, Marketbeat.com reports.

CMCSA has been the subject of several other reports. Vertical Research downgraded shares of Comcast to a positive rating in a research note on Tuesday, July 5th. Oppenheimer reduced their target price on Comcast from $75.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, April 14th. Pivotal Research reduced their target price on Comcast from $55.00 to $47.00 and set a buy rating on the stock in a report on Friday, July 29th. Cowen reduced their price objective on Comcast from $60.00 to $51.00 in a research note on Friday, July 29th. Finally, Barclays downgraded Comcast from an overweight rating to an equal weight rating and dropped their target price for the company from $48.00 to $42.00 in a research report on Monday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $52.52.

Comcast Stock Down 1.7 %

NASDAQ:CMCSA opened at $38.27 on Friday. The stock’s fifty day moving average price is $40.48 and its two-hundred day moving average price is $44.14. Comcast has a 52-week low of $36.57 and a 52-week high of $61.80. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.44 and a current ratio of 0.88. The company has a market cap of $168.89 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.81 and a beta of 0.91.

Comcast (NASDAQ:CMCSA – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. The company had revenue of $30.02 billion for the quarter, compared to the consensus estimate of $29.72 billion. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 EPS. On average, analysts anticipate that Comcast will post 3.62 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.82%. Comcast’s payout ratio is 35.29%.

Insider Activity at Comcast

In related news, CAO Daniel C. Murdock sold 8,929 shares of the business’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $44.50, for a total transaction of $397,340.50. Following the sale, the chief accounting officer now directly owns 1,817 shares in the company, valued at approximately $80,856.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comcast

Institutional investors have recently modified their holdings of the company. Abbrea Capital LLC increased its position in Comcast by 0.5% in the fourth quarter. Abbrea Capital LLC now owns 44,236 shares of the cable giant’s stock worth $2,226,000 after buying an additional 208 shares during the period. Calton & Associates Inc. lifted its stake in Comcast by 3.1% in the 1st quarter. Calton & Associates Inc. now owns 7,021 shares of the cable giant’s stock worth $328,000 after acquiring an additional 212 shares in the last quarter. RSM US Wealth Management LLC lifted its stake in Comcast by 0.8% in the 4th quarter. RSM US Wealth Management LLC now owns 26,206 shares of the cable giant’s stock worth $1,319,000 after acquiring an additional 220 shares in the last quarter. Tsfg LLC raised its stake in shares of Comcast by 9.0% during the 4th quarter. Tsfg LLC now owns 2,735 shares of the cable giant’s stock worth $138,000 after purchasing an additional 225 shares in the last quarter. Finally, Atlas Private Wealth Management raised its stake in shares of Comcast by 1.1% during the 4th quarter. Atlas Private Wealth Management now owns 22,348 shares of the cable giant’s stock worth $1,125,000 after purchasing an additional 244 shares in the last quarter. 83.33% of the stock is currently owned by institutional investors.

Comcast Company Profile

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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.