Loop Capital Cuts Comcast (NASDAQ:CMCSA) Price Target to $44.00

Comcast (NASDAQ:CMCSA) had its price objective trimmed by Loop Capital from $50.00 to $44.00 in a report released on Monday morning,MarketScreener reports. The brokerage currently has a buy rating on the cable giant’s stock.

CMCSA has been the topic of several other reports. Rothschild & Co Redburn dropped their price target on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Moffett Nathanson boosted their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Citigroup reiterated a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. Arete Research upgraded shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Finally, Scotiabank boosted 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. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.19.

Comcast Stock Performance

CMCSA stock opened at $31.61 on Monday. The company has a market capitalization of $116.71 billion, a P/E ratio of 5.22, a PEG ratio of 1.89 and a beta of 0.93. The company has a 50-day simple moving average of $33.25 and a 200 day simple moving average of $34.38. Comcast has a fifty-two week low of $31.03 and a fifty-two week 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 posted its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. Sell-side analysts predict that Comcast will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s payout ratio is 21.82%.

Hedge Funds Weigh In On Comcast

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Comcast by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock valued at $13,185,275,000 after acquiring an additional 1,257,196 shares in the last quarter. State Street Corp grew its stake in Comcast by 2.5% during the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock valued at $6,166,154,000 after acquiring an additional 4,231,140 shares in the last quarter. Dodge & Cox grew its stake in Comcast by 18.1% during the 2nd quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after acquiring an additional 17,054,579 shares in the last quarter. Norges Bank purchased a new position in Comcast during the 2nd quarter valued at about $3,528,361,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Comcast by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock valued at $1,289,984,000 after acquiring an additional 2,517,906 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.