Sanford C. Bernstein Cuts Comcast (NASDAQ:CMCSA) Price Target to $36.00

Comcast (NASDAQ:CMCSA) had its price target reduced by Sanford C. Bernstein from $37.00 to $36.00 in a report published on Wednesday morning, Marketbeat Ratings reports. Sanford C. Bernstein currently has a market perform rating on the cable giant’s stock.

A number of other equities analysts have also recently weighed in on CMCSA. Scotiabank lifted their price target on shares of Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. UBS Group reduced their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, August 1st. Rosenblatt Securities lifted their price target on shares of Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 4th. Citigroup reissued a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. Finally, Benchmark reissued a “buy” rating on shares of Comcast in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.56.

Comcast Trading Down 1.0%

Shares of NASDAQ CMCSA opened at $33.06 on Wednesday. The company’s fifty day moving average is $33.79 and its 200-day moving average is $34.60. The stock has a market cap of $122.06 billion, a price-to-earnings ratio of 5.46, a P/E/G ratio of 2.00 and a beta of 0.93. Comcast has a twelve month low of $31.03 and a twelve month high of $45.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Equities research analysts predict that Comcast will post 4.33 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is currently 21.82%.

Institutional Investors Weigh In On Comcast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inlight Wealth Management LLC acquired a new stake in Comcast in the 1st quarter valued at $26,000. Global Trust Asset Management LLC increased its stake in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after buying an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC increased its stake in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares during the last quarter. Avalon Trust Co increased its stake in shares of Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Comcast during the 1st quarter worth about $29,000. 84.32% of the stock is currently 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.