Comcast’s (CMCSA) “Neutral” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Comcast (NASDAQ:CMCSA) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $45.00 price objective on the cable giant’s stock.

A number of other equities research analysts have also recently issued reports on the company. 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 for the company. BNP Paribas cut 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. Evercore ISI reduced their price objective on Comcast from $50.00 to $48.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Pivotal Research dropped their price target on shares of Comcast from $48.00 to $47.00 and set a buy rating for the company in a research report on Wednesday. Finally, Scotiabank dropped their price target on shares of Comcast from $50.00 to $47.25 and set a sector perform rating for the company in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $46.96.

Comcast Price Performance

NASDAQ:CMCSA opened at $39.69 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.59 and a current ratio of 0.66. The stock’s 50-day simple moving average is $38.53 and its 200 day simple moving average is $40.65. The company has a market cap of $155.73 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.01 and a beta of 1.00. Comcast has a 52-week low of $36.43 and a 52-week high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results 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 return on equity of 20.17% and a net margin of 12.46%. The business had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same quarter last year, the company posted $1.13 earnings per share. Comcast’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Comcast will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

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

Insider Transactions at Comcast

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the transaction, the insider now directly 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 this link. Company insiders own 1.26% of the company’s stock.

Institutional Trading of Comcast

Several institutional investors have recently modified their holdings of CMCSA. Luken Investment Analytics LLC grew its stake in shares of Comcast by 258.0% in the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after purchasing an additional 418 shares during the last quarter. Steph & Co. boosted its position in Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Comcast during the fourth quarter valued at $28,000. IAG Wealth Partners LLC boosted its position in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in Comcast during the fourth quarter valued at $32,000. 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.