Comcast (NASDAQ:CMCSA) Given New $44.00 Price Target at KeyCorp

Comcast (NASDAQ:CMCSA) had its price target reduced by KeyCorp from $45.00 to $44.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the cable giant’s stock.

A number of other analysts have also recently commented on the stock. Pivotal Research lowered their price objective on shares of Comcast from $48.00 to $47.00 and set a buy rating for the company in a research report on Wednesday. Citigroup cut their price objective on Comcast from $53.00 to $48.00 and set a buy rating on the stock in a report on Monday, April 29th. BNP Paribas downgraded shares of Comcast from a neutral rating to an underperform rating and set a $34.00 target price on the stock. in a report on Tuesday, June 11th. Seaport Res Ptn downgraded shares of Comcast from a strong-buy rating to a hold rating in a research report on Monday, June 24th. Finally, Benchmark reaffirmed a buy rating and issued a $55.00 price objective on shares of Comcast in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Comcast has a consensus rating of Hold and an average target price of $47.28.

Comcast Price Performance

Shares of Comcast stock opened at $39.69 on Wednesday. Comcast has a 1-year low of $36.43 and a 1-year high of $47.46. The firm’s 50-day moving average price is $38.53 and its two-hundred day moving average price 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. The stock has a market capitalization of $155.73 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 0.95 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share 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 business had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. Comcast’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts predict that Comcast will post 4.22 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 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.12%. Comcast’s payout ratio is presently 32.80%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Comcast

Institutional investors have recently added to or reduced their stakes in the business. Greenwich Wealth Management LLC raised its holdings in shares of Comcast by 2.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after purchasing an additional 219 shares during the period. Legend Financial Advisors Inc. raised its stake in Comcast by 17.5% during the 4th quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock worth $65,000 after buying an additional 220 shares during the period. Beaumont Asset Management L.L.C. boosted its holdings in Comcast by 1.6% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock worth $620,000 after acquiring an additional 226 shares in the last quarter. Keystone Financial Services increased its holdings in shares of Comcast by 1.1% during the fourth quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after acquiring an additional 229 shares in the last quarter. Finally, Bollard Group LLC lifted its holdings in shares of Comcast by 0.7% in the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after purchasing an additional 244 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

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.