Comcast (NASDAQ:CMCSA) Price Target Lowered to $36.00 at Bank of America

Comcast (NASDAQ:CMCSA) had its target price reduced by Bank of America from $38.00 to $36.00 in a report issued on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the cable giant’s stock.

Several other research firms also recently commented on CMCSA. Benchmark reiterated a “buy” rating on shares of Comcast in a report on Friday, July 18th. Barclays reduced their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Sanford C. Bernstein lowered their price objective on Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a research report on Wednesday, September 10th. Rosenblatt Securities increased their price objective on Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. Finally, Citigroup restated a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.07.

Comcast Price Performance

Shares of Comcast stock opened at $30.94 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. Comcast has a 52-week low of $30.90 and a 52-week high of $45.31. The company has a fifty day moving average of $32.89 and a 200-day moving average of $34.24. The stock has a market capitalization of $114.24 billion, a price-to-earnings ratio of 5.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 EPS 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. Equities research analysts expect that Comcast will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. Comcast’s payout ratio is 21.82%.

Institutional Trading of Comcast

Several large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after buying an additional 99,986 shares during the period. GAMMA Investing LLC raised its position in shares of Comcast by 2,193.1% in the 1st quarter. GAMMA Investing LLC now owns 1,164,564 shares of the cable giant’s stock worth $42,972,000 after acquiring an additional 1,113,779 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Comcast by 10.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 60,769 shares of the cable giant’s stock valued at $2,242,000 after purchasing an additional 5,801 shares during the period. Baker Tilly Wealth Management LLC boosted its position in shares of Comcast by 48.0% during the first quarter. Baker Tilly Wealth Management LLC now owns 30,964 shares of the cable giant’s stock valued at $1,143,000 after purchasing an additional 10,038 shares in the last quarter. Finally, Future Financial Wealth Managment LLC boosted its position in shares of Comcast by 5,000.0% during the first quarter. Future Financial Wealth Managment LLC now owns 1,020 shares of the cable giant’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. 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.