Comcast (NASDAQ:CMCSA) Earns “Neutral” Rating from Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Comcast (NASDAQ:CMCSA) in a research note released on Wednesday, Benzinga reports. The firm currently has a $45.00 target price on the cable giant’s stock.

CMCSA has been the topic of several other reports. The Goldman Sachs Group initiated coverage on Comcast in a report on Tuesday, June 25th. They set a buy rating and a $44.00 price objective on the stock. Benchmark reaffirmed a buy rating and issued a $55.00 price target on shares of Comcast in a report on Monday, May 13th. Citigroup dropped their target price on shares of Comcast from $53.00 to $48.00 and set a buy rating for the company in a research report on Monday, April 29th. Wells Fargo & Company reduced their price target on shares of Comcast from $47.00 to $43.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. Finally, BNP Paribas lowered Comcast from a neutral rating to an underperform rating and set a $34.00 price objective for the company. in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Comcast currently has a consensus rating of Hold and an average price target of $47.28.

Comcast Trading Up 3.8 %

NASDAQ CMCSA opened at $39.69 on Wednesday. The stock has a market cap of $155.73 billion, a P/E ratio of 10.50, a PEG ratio of 0.95 and a beta of 1.00. The company’s fifty day simple moving average is $38.53 and its 200-day simple moving average is $40.66. The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Comcast has a 52 week low of $36.43 and a 52 week high of $47.46.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. During the same quarter in the previous year, the business posted $1.13 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts predict that Comcast will post 4.22 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.12%. Comcast’s payout ratio is 32.80%.

Insider Activity at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wealthspire Advisors LLC boosted its position in Comcast by 4.8% during the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock worth $2,659,000 after acquiring an additional 2,781 shares during the period. Everett Harris & Co. CA grew its position in Comcast by 7.7% during the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after purchasing an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. increased its stake in Comcast by 1.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after buying an additional 1,486 shares during the period. Brevan Howard Capital Management LP purchased a new stake in Comcast in the 4th quarter worth approximately $2,056,000. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Comcast by 10.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after buying an additional 10,936 shares during the period. 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.