Comcast (NASDAQ:CMCSA) Price Target Increased to $56.00 by Analysts at Citigroup

Comcast (NASDAQ:CMCSA) had its target price raised by Citigroup from $50.00 to $56.00 in a research note released on Friday morning, BenzingaRatingsTable reports. They currently have a buy rating on the cable giant’s stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Co began coverage on shares of Comcast in a report on Tuesday, August 27th. They issued an outperform rating and a $50.00 price target on the stock. Bank of America set a $58.00 target price on shares of Comcast and gave the company a buy rating in a research note on Wednesday, August 21st. Goldman Sachs Group upgraded shares of Comcast from a neutral rating to a buy rating and boosted their target price for the company from $44.00 to $54.00 in a research note on Wednesday, July 10th. Raymond James downgraded shares of Comcast from a strong-buy rating to an outperform rating and reduced their target price for the company from $25.00 to $21.00 in a research note on Friday, June 14th. Finally, Oppenheimer upgraded shares of Comcast from a market perform rating to an outperform rating and set a $54.00 target price on the stock in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $48.70.

Comcast stock traded up $0.65 on Friday, hitting $44.71. The company’s stock had a trading volume of 12,543,184 shares, compared to its average volume of 18,215,480. The firm has a market cap of $203.21 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30. The company has a fifty day moving average price of $44.91 and a 200-day moving average price of $43.01. Comcast has a one year low of $32.61 and a one year high of $47.27.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The firm had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts anticipate that Comcast will post 3.08 EPS for the current year.

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

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

A number of hedge funds and other institutional investors have recently modified their holdings of CMCSA. USS Investment Management Ltd boosted its position in Comcast by 7.3% during the 1st quarter. USS Investment Management Ltd now owns 6,208,145 shares of the cable giant’s stock worth $248,109,000 after acquiring an additional 423,687 shares during the last quarter. Buckingham Asset Management LLC boosted its holdings in shares of Comcast by 28.4% in the 1st quarter. Buckingham Asset Management LLC now owns 47,490 shares of the cable giant’s stock valued at $1,899,000 after buying an additional 10,507 shares during the last quarter. Andesa Financial Management Inc. acquired a new stake in shares of Comcast in the 1st quarter valued at approximately $550,000. Bingham Osborn & Scarborough LLC acquired a new stake in shares of Comcast in the 1st quarter valued at approximately $200,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Comcast by 18.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,076,347 shares of the cable giant’s stock valued at $43,034,000 after buying an additional 166,379 shares during the last quarter. 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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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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