Comcast (NASDAQ:CMCSA) Stock Gets Price Target Cut from Freedom Broker

Comcast (NASDAQ:CMCSA) had its price target trimmed by Freedom Broker from $29.00 to $25.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the cable giant’s stock.

A number of other brokerages also recently weighed in on CMCSA. KeyCorp downgraded shares of Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 price target for the company. in a report on Thursday, September 24th. Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Royal Bank Of Canada set a $26.00 price objective on shares of Comcast and gave the stock a “sector perform” rating in a report on Friday, July 24th. Scotiabank cut their price objective on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a research report on Friday, October 2nd. Finally, Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the company an “underweight” rating in a research note on Friday, July 24th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus target price of $30.37.

Comcast Stock Down 1.2%

CMCSA opened at $21.57 on Monday. Comcast has a 1-year low of $20.48 and a 1-year high of $32.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $76.54 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.61 and a beta of 0.68. The business has a 50 day moving average of $23.55 and a 200-day moving average of $26.15.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The business had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Comcast’s revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comcast will post 3.54 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Wednesday, January 6th. Comcast’s payout ratio is 41.77%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC grew its holdings in shares of Comcast by 16.6% during the third quarter. Douglas Lane & Associates LLC now owns 2,549,714 shares of the cable giant’s stock worth $55,482,000 after purchasing an additional 363,552 shares during the last quarter. Saudi Central Bank raised its holdings in shares of Comcast by 87.2% in the second quarter. Saudi Central Bank now owns 251,190 shares of the cable giant’s stock valued at $6,167,000 after buying an additional 117,038 shares during the last quarter. Nykredit A S acquired a new position in Comcast during the 2nd quarter worth about $137,515,000. Inceptionr LLC bought a new stake in Comcast during the 1st quarter worth about $660,000. Finally, Bank of America Corp DE grew its holdings in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after acquiring an additional 3,783,234 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.