Comcast (NASDAQ:CMCSA) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Comcast (NASDAQ:CMCSA) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

Other equities research analysts have also issued reports about the stock. Rosenblatt Securities reissued a neutral rating and issued a $45.00 target price on shares of Comcast in a report on Wednesday, July 24th. Seaport Res Ptn cut shares of Comcast from a strong-buy rating to a hold rating in a research note on Monday, June 24th. Barclays lowered their target price on shares of Comcast from $41.00 to $40.00 and set an equal weight rating on the stock in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $50.00 to $49.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Finally, Macquarie reissued a neutral rating and set a $40.00 price target on shares of Comcast in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $45.78.

Comcast Price Performance

Shares of CMCSA opened at $39.61 on Wednesday. Comcast has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a market capitalization of $155.41 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00. The firm has a 50 day moving average of $39.24 and a 200 day moving average of $39.83. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last posted its 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 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 quarter in the previous year, the firm posted $1.13 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Comcast will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company 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 $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Hedge Funds Weigh In On Comcast

A number of large investors have recently made changes to their positions in CMCSA. Luken Investment Analytics LLC lifted its holdings in shares of Comcast by 258.0% during 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 period. 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 worth $26,000 after purchasing an additional 371 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Comcast in the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast in the second quarter valued at approximately $27,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast during the 4th quarter worth approximately $28,000. 84.32% of the stock is owned by institutional investors and hedge funds.

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.