Comcast (NASDAQ:CMCSA) Price Target Cut to $43.00 by Analysts at Moffett Nathanson

Comcast (NASDAQ:CMCSA) had its target price reduced by Moffett Nathanson from $52.00 to $43.00 in a research report sent to investors on Tuesday. They currently have a buy rating on the cable giant’s stock.

A number of other research analysts have also commented on CMCSA. UBS Group reiterated a “neutral” rating and set a $27.00 price objective (down from $32.00) on shares of Comcast in a research note on Tuesday, September 15th. Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Scotiabank set a $29.00 price target on Comcast in a research report on Friday, July 24th. Sanford C. Bernstein reissued a “market perform” rating and issued a $28.00 price objective on shares of Comcast in a research note on Monday, July 13th. Finally, Barclays set a $26.00 price objective on Comcast and gave the company an “equal weight” rating in a report on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.17.

Comcast Stock Performance

CMCSA stock opened at $22.66 on Tuesday. The company has a market capitalization of $80.41 billion, a P/E ratio of 7.33, a PEG ratio of 1.60 and a beta of 0.68. The company has a 50-day simple moving average of $24.99 and a 200 day simple moving average of $25.80. Comcast has a fifty-two week low of $21.28 and a fifty-two week high of $32.85. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $29.94 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a net margin of 8.97% and a return on equity of 14.77%. Comcast’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Sell-side analysts predict that Comcast will post 3.5 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio is currently 42.72%.

Hedge Funds Weigh In On Comcast

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Comcast by 3.4% in the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after buying an additional 6,117,946 shares during the period. Capital World Investors lifted its position in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after acquiring an additional 24,166,881 shares in the last quarter. Geode Capital Management LLC boosted its stake in Comcast by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after purchasing an additional 1,465,428 shares during the period. Norges Bank acquired a new position in Comcast in the 4th quarter worth approximately $2,498,626,000. Finally, Capital Research Global Investors grew its position in Comcast by 65.1% during the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock worth $1,663,825,000 after purchasing an additional 21,958,603 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation (NASDAQ:CMCSA) is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.