Comcast (NASDAQ:CMCSA) Downgraded to “Hold” at Seaport Res Ptn

Seaport Res Ptn lowered shares of Comcast (NASDAQ:CMCSA) from a strong-buy rating to a hold rating in a report published on Monday, Zacks.com reports.

A number of other research analysts have also recently weighed in on CMCSA. Benchmark reiterated a buy rating and issued a $55.00 target price on shares of Comcast in a research note on Monday, May 13th. Rosenblatt Securities reiterated a neutral rating and issued a $45.00 target price on shares of Comcast in a research note on Friday, April 26th. BNP Paribas cut shares of Comcast from a neutral rating to an underperform rating and set a $34.00 target price on the stock. in a research note on Tuesday, June 11th. Scotiabank dropped their target price on shares of Comcast from $50.00 to $47.25 and set a sector perform rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company lowered their price target on shares of Comcast from $47.00 to $43.00 and set an equal weight rating on the stock in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $48.62.

Comcast Stock Down 0.5 %

Comcast stock opened at $38.22 on Monday. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The stock has a market cap of $149.96 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The firm’s 50-day simple moving average is $38.78 and its 200 day simple moving average is $41.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Research analysts predict that Comcast will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Wednesday, July 3rd. Comcast’s payout ratio is 32.80%.

Insider Transactions at Comcast

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction on Wednesday, May 22nd. The shares were 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 of the company’s stock, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Comcast

Several institutional investors and hedge funds have recently made changes to their positions in CMCSA. Luken Investment Analytics LLC grew its holdings in shares of Comcast by 258.0% during the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after purchasing an additional 418 shares during the last quarter. Steph & Co. grew its holdings in Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in Comcast by 299.1% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after acquiring an additional 475,675 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in Comcast in the 4th quarter worth $28,000. Finally, Pineridge Advisors LLC bought a new stake in Comcast in the 4th quarter worth $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.