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

Comcast (NASDAQ:CMCSA) had its price objective lowered by Loop Capital from $44.00 to $43.00 in a research note released on Wednesday,MarketScreener reports. Loop Capital currently has a buy rating on the cable giant’s stock.

CMCSA has been the topic of several other research reports. Morgan Stanley lowered their target price on Comcast from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, August 4th. Barclays lowered their target price on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Royal Bank Of Canada initiated coverage on Comcast in a research note on Monday, September 8th. They set a “sector perform” rating and a $38.00 target price on the stock. Benchmark reiterated a “buy” rating on shares of Comcast in a report on Friday, July 18th. Finally, Scotiabank lifted their price target on Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat, Comcast presently has a consensus rating of “Hold” and a consensus price target of $40.26.

Comcast Trading Up 1.6%

NASDAQ:CMCSA opened at $30.90 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast has a fifty-two week low of $30.38 and a fifty-two week high of $45.31. The stock’s 50-day moving average is $32.73 and its two-hundred day moving average is $34.16. The stock has a market cap of $114.09 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Comcast will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

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

Institutional Investors Weigh In On Comcast

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC lifted its holdings in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in Comcast in the 1st quarter worth approximately $26,000. Global Trust Asset Management LLC lifted its holdings in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC lifted its holdings in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares during the last quarter. Finally, Avalon Trust Co lifted its holdings in Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

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.