Comcast Corp. (CMCSA) Trading Down 1.4%
Shares of Comcast Corp. (NASDAQ:CMCSA) fell 1.4% during mid-day trading on Tuesday . The company traded as low as $65.49 and last traded at $65.50, with a volume of 4,806,010 shares changing hands. The stock had previously closed at $66.44.
A number of brokerages have recently issued reports on CMCSA. Telsey Advisory Group lifted their price target on Comcast Corp. from $75.00 to $76.50 and gave the company an “outperform” rating in a research report on Friday, August 19th. Argus lifted their price target on Comcast Corp. from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Credit Suisse Group AG reiterated an “outperform” rating and set a $75.00 price target (up previously from $69.00) on shares of Comcast Corp. in a research report on Monday, August 1st. Pacific Crest boosted their target price on Comcast Corp. from $65.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $72.00 target price (up previously from $70.00) on shares of Comcast Corp. in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Comcast Corp. presently has an average rating of “Buy” and an average target price of $71.68.
The company has a 50 day moving average of $67.04 and a 200-day moving average of $62.56. The company has a market cap of $158.43 billion and a price-to-earnings ratio of 19.97.
Comcast Corp. (NASDAQ:CMCSA) last issued its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $18.74 billion for the quarter, compared to the consensus estimate of $19.11 billion. During the same period in the prior year, the business posted $0.84 earnings per share. Comcast Corp.’s revenue was up 2.8% on a year-over-year basis. On average, analysts anticipate that Comcast Corp. will post $3.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, October 3rd.
In other Comcast Corp. news, EVP Neil Smit sold 15,121 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $63.47, for a total transaction of $959,729.87. Following the transaction, the executive vice president now directly owns 110,885 shares in the company, valued at approximately $7,037,870.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Brian L. Roberts sold 304,109 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $67.26, for a total value of $20,454,371.34. Following the transaction, the chairman now owns 630,596 shares in the company, valued at $42,413,886.96. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in CMCSA. Northeast Financial Consultants Inc purchased a new position in Comcast Corp. during the fourth quarter valued at approximately $1,047,000. Homrich & Berg increased its position in shares of Comcast Corp. by 106.1% in the fourth quarter. Homrich & Berg now owns 18,875 shares of the cable giant’s stock worth $1,065,000 after buying an additional 9,715 shares in the last quarter. Whalerock Point Partners LLC increased its position in shares of Comcast Corp. by 6.4% in the fourth quarter. Whalerock Point Partners LLC now owns 18,981 shares of the cable giant’s stock worth $1,071,000 after buying an additional 1,150 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Comcast Corp. by 22.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 19,065 shares of the cable giant’s stock worth $1,075,000 after buying an additional 3,455 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Comcast Corp. by 5.6% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,475 shares of the cable giant’s stock worth $1,099,000 after buying an additional 1,031 shares in the last quarter.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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