Loop Capital Cuts Comcast (NASDAQ:CMCSA) Price Target to $53.00

Comcast (NASDAQ:CMCSA) had its target price decreased by Loop Capital from $54.00 to $53.00 in a report released on Thursday,Benzinga reports. Loop Capital currently has a buy rating on the cable giant’s stock.

CMCSA has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen decreased their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. KeyCorp lifted their target price on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Barclays lifted their target price on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Finally, Pivotal Research lifted their target price on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Comcast currently has an average rating of “Moderate Buy” and a consensus price target of $47.39.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $37.67 on Thursday. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The business has a 50 day moving average price of $41.25 and a two-hundred day moving average price of $40.26. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm has a market cap of $144.15 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same quarter last year, the firm earned $1.08 EPS. Comcast’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that Comcast will post 4.26 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s payout ratio is currently 33.33%.

Insider Buying and Selling at Comcast

In other news, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the sale, the president now owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Institutional Trading of Comcast

A number of hedge funds and other institutional investors have recently modified their holdings of CMCSA. Koshinski Asset Management Inc. increased its stake in shares of Comcast by 0.8% in the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock valued at $1,277,000 after buying an additional 249 shares during the period. Taurus Asset Management LLC increased its stake in shares of Comcast by 2.9% in the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after buying an additional 253 shares during the period. Regent Peak Wealth Advisors LLC increased its stake in shares of Comcast by 3.1% in the third quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after buying an additional 257 shares during the period. Abich Financial Wealth Management LLC increased its stake in shares of Comcast by 4.7% in the third quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock valued at $243,000 after buying an additional 260 shares during the period. Finally, Greenwich Wealth Management LLC increased its stake in shares of Comcast by 2.7% in the second quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after buying an additional 261 shares during the period. 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.