Comcast Corporation (NASDAQ:CMCSA) Announces $0.33 Quarterly Dividend

Comcast Corporation (NASDAQ:CMCSA) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Wednesday, October 7th will be given a dividend of 0.33 per share by the cable giant on Wednesday, October 28th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Wednesday, October 7th.

Comcast has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 18 years. Comcast has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Comcast to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 35.9%.

Comcast Price Performance

NASDAQ:CMCSA opened at $21.92 on Friday. Comcast has a one year low of $21.91 and a one year high of $36.01. The stock has a market cap of $78.30 billion, a PE ratio of 4.31, a P/E/G ratio of 1.94 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day moving average price of $23.86 and a 200 day moving average price of $27.30.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts expect that Comcast will post 3.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CMCSA. Seaport Research Partners raised shares of Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Rosenblatt Securities upgraded shares of Comcast from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a report on Tuesday, June 30th. Morgan Stanley dropped their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 7th. Freedom Capital raised shares of Comcast to a “hold” rating in a research report on Friday, June 12th. Finally, Citigroup cut their target price on Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Comcast has an average rating of “Hold” and an average target price of $33.45.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.