KeyCorp Cuts Comcast (NASDAQ:CMCSA) Price Target to $43.00

Comcast (NASDAQ:CMCSA) had its target price cut by KeyCorp from $45.00 to $43.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the cable giant’s stock.

CMCSA has been the subject of a number of other reports. Rosenblatt Securities lifted their price objective on Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Benchmark restated a “buy” rating on shares of Comcast in a report on Friday, July 18th. Barclays lowered their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Arete Research raised shares of Comcast to a “hold” rating in a research note on Tuesday, July 8th. Finally, Bank of America decreased their price objective on shares of Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.26.

Comcast Stock Up 1.6%

Shares of NASDAQ:CMCSA opened at $30.90 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $114.09 billion, a price-to-earnings ratio of 5.11, a P/E/G ratio of 1.81 and a beta of 0.94. The company has a 50 day moving average of $32.73 and a 200-day moving average of $34.13. Comcast has a one year low of $30.38 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. On average, sell-side analysts forecast that Comcast will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast’s dividend payout ratio (DPR) is presently 21.82%.

Hedge Funds Weigh In On Comcast

A number of large investors have recently added to or reduced their stakes in CMCSA. Aaron Wealth Advisors LLC boosted its position in shares of Comcast by 174.7% during the third quarter. Aaron Wealth Advisors LLC now owns 45,094 shares of the cable giant’s stock worth $1,417,000 after buying an additional 28,680 shares during the period. Shorepoint Capital Partners LLC bought a new stake in Comcast in the 3rd quarter valued at approximately $3,312,000. Capital Asset Advisory Services LLC boosted its position in Comcast by 19.5% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 95,516 shares of the cable giant’s stock worth $3,001,000 after acquiring an additional 15,587 shares during the last quarter. Farmers Trust Co. bought a new position in shares of Comcast during the 3rd quarter worth approximately $406,000. Finally, Praxis Investment Management Inc. raised its holdings in shares of Comcast by 32.3% in the third quarter. Praxis Investment Management Inc. now owns 151,104 shares of the cable giant’s stock valued at $4,748,000 after purchasing an additional 36,864 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

About Comcast

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.