Comcast Corporation’s (CMCSA) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of Comcast Corporation (NASDAQ:CMCSA) in a report released on Thursday morning. Morgan Stanley currently has a $44.00 target price on the cable giant’s stock.

CMCSA has been the topic of several other reports. Guggenheim raised shares of Comcast Corporation from a neutral rating to a buy rating and increased their price objective for the company from $42.00 to $46.00 in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Comcast Corporation from a buy rating to a hold rating in a research report on Friday, June 23rd. Instinet reissued a buy rating and set a $46.00 price objective on shares of Comcast Corporation in a research report on Wednesday, June 28th. Wells Fargo & Company reissued an outperform rating and set a $44.00 price objective on shares of Comcast Corporation in a research report on Wednesday, June 28th. Finally, Moffett Nathanson raised shares of Comcast Corporation from a neutral rating to a buy rating and set a $45.00 price objective on the stock in a research report on Tuesday, September 12th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $45.83.

Shares of Comcast Corporation (CMCSA) traded up 0.9285% on Thursday, hitting $37.8179. 11,141,409 shares of the stock were exchanged. Comcast Corporation has a 12 month low of $30.02 and a 12 month high of $42.18. The company has a market cap of $178.25 billion, a PE ratio of 19.0518 and a beta of 1.01. The company has a 50-day moving average price of $39.84 and a 200 day moving average price of $39.19.

Comcast Corporation (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The company had revenue of $21.17 billion for the quarter, compared to the consensus estimate of $20.85 billion. During the same period in the prior year, the firm posted $0.83 EPS. Comcast Corporation’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts forecast that Comcast Corporation will post $2.04 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Tuesday, October 3rd. Comcast Corporation’s payout ratio is currently 31.74%.

In other news, SVP Daniel C. Murdock sold 3,659 shares of Comcast Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $39.61, for a total transaction of $144,932.99. Following the sale, the senior vice president now owns 725 shares in the company, valued at $28,717.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kenneth J. Bacon sold 2,232 shares of Comcast Corporation stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $37.27, for a total transaction of $83,186.64. Following the sale, the director now owns 24,580 shares in the company, valued at approximately $916,096.60. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Connecticut Wealth Management LLC grew its holdings in shares of Comcast Corporation by 0.4% in the second quarter. Connecticut Wealth Management LLC now owns 6,602 shares of the cable giant’s stock valued at $256,000 after purchasing an additional 24 shares in the last quarter. Financial Consulate Inc. grew its holdings in shares of Comcast Corporation by 0.5% in the second quarter. Financial Consulate Inc. now owns 6,400 shares of the cable giant’s stock valued at $249,000 after purchasing an additional 30 shares in the last quarter. Clarius Group LLC grew its holdings in shares of Comcast Corporation by 0.4% in the second quarter. Clarius Group LLC now owns 8,041 shares of the cable giant’s stock valued at $313,000 after purchasing an additional 32 shares in the last quarter. GM Advisory Group Inc. grew its holdings in shares of Comcast Corporation by 0.9% in the second quarter. GM Advisory Group Inc. now owns 5,554 shares of the cable giant’s stock valued at $217,000 after purchasing an additional 48 shares in the last quarter. Finally, Peoples Bank OH grew its holdings in shares of Comcast Corporation by 0.9% in the second quarter. Peoples Bank OH now owns 6,340 shares of the cable giant’s stock valued at $247,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 81.93% of the company’s stock.

Comcast Corporation Company Profile

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

Analyst Recommendations for Comcast Corporation (NASDAQ:CMCSA)

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