Comcast (NASDAQ:CMCSA) Downgraded by ValuEngine to “Strong Sell”

ValuEngine lowered shares of Comcast (NASDAQ:CMCSA) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, ValuEngine reports.

A number of other research firms also recently commented on CMCSA. Raymond James downgraded Comcast from a strong-buy rating to an outperform rating and cut their price objective for the stock from $25.00 to $21.00 in a report on Friday, June 14th. Rosenblatt Securities began coverage on Comcast in a report on Friday, June 14th. They issued a buy rating and a $50.00 price objective on the stock. Pivotal Research raised their price objective on Comcast from $54.00 to $56.00 and gave the stock a buy rating in a report on Thursday, September 26th. Benchmark began coverage on Comcast in a report on Wednesday, September 25th. They issued a buy rating and a $64.00 price objective on the stock. Finally, Oppenheimer upgraded Comcast from a market perform rating to an outperform rating and set a $54.00 price objective on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $48.70.

NASDAQ CMCSA traded up $0.65 during trading hours on Wednesday, hitting $44.71. 12,543,184 shares of the company’s stock were exchanged, compared to its average volume of 16,395,077. The business’s 50 day moving average is $44.91 and its 200-day moving average is $43.01. Comcast has a 12-month low of $32.61 and a 12-month high of $47.27. The firm has a market capitalization of $200.25 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.69 and a current ratio of 0.69.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $26.86 billion for the quarter, compared to the consensus estimate of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted $0.65 EPS. As a group, equities research analysts anticipate that Comcast will post 3.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.21 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. Comcast’s dividend payout ratio (DPR) is currently 32.94%.

In other news, Director Kenneth J. Bacon sold 4,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total value of $180,120.00. Following the completion of the sale, the director now owns 29,603 shares in the company, valued at $1,333,023.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Daniel C. Murdock sold 848 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $44.23, for a total value of $37,507.04. Following the completion of the sale, the senior vice president now owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of CMCSA. Commonwealth Equity Services LLC grew its stake in Comcast by 3.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 639,819 shares of the cable giant’s stock valued at $27,051,000 after purchasing an additional 19,495 shares in the last quarter. Chesley Taft & Associates LLC lifted its holdings in Comcast by 4.0% during the 2nd quarter. Chesley Taft & Associates LLC now owns 43,480 shares of the cable giant’s stock worth $1,838,000 after buying an additional 1,675 shares during the last quarter. Cibc Bank USA lifted its holdings in Comcast by 23.1% during the 2nd quarter. Cibc Bank USA now owns 27,072 shares of the cable giant’s stock worth $1,145,000 after buying an additional 5,079 shares during the last quarter. Cypress Capital Management LLC bought a new position in Comcast during the 2nd quarter worth approximately $8,070,000. Finally, Crestline Management LP bought a new position in Comcast during the 2nd quarter worth approximately $471,000. Institutional investors and hedge funds own 82.75% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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