Argus Boosts Comcast Corporation (CMCSA) Price Target to $48.00
Comcast Corporation (NASDAQ:CMCSA) had its price objective boosted by Argus from $44.00 to $48.00 in a research note published on Friday morning. They currently have a buy rating on the cable giant’s stock.
Several other research firms have also weighed in on CMCSA. Telsey Advisory Group upped their price objective on Comcast Corporation from $44.00 to $47.00 and gave the company an outperform rating in a research note on Friday, April 28th. Credit Suisse Group upped their price objective on Comcast Corporation from $41.00 to $45.00 and gave the company an outperform rating in a research note on Friday, May 5th. Barclays PLC set a $44.00 price objective on Comcast Corporation and gave the company a buy rating in a research note on Friday, July 14th. Robert W. Baird reiterated an outperform rating and issued a $40.00 price objective on shares of Comcast Corporation in a research note on Friday, April 7th. Finally, Instinet reiterated a buy rating and issued a $43.00 price objective (down from $46.00) on shares of Comcast Corporation in a research note on Saturday, April 29th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Comcast Corporation currently has a consensus rating of Buy and a consensus price target of $45.69.
Comcast Corporation (NASDAQ:CMCSA) traded up 0.03% on Friday, reaching $39.61. The company had a trading volume of 12,280,745 shares. The stock has a market cap of $186.70 billion, a price-to-earnings ratio of 19.95 and a beta of 1.01. Comcast Corporation has a one year low of $30.02 and a one year high of $42.18. The company has a 50-day moving average of $39.64 and a 200 day moving average of $38.61.
Comcast Corporation (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. The company had revenue of $21.17 billion for the quarter, compared to analyst estimates of $20.85 billion. During the same period in the prior year, the company posted $0.83 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Comcast Corporation will post $2.04 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 dividend on an annualized basis and a yield of 1.59%. Comcast Corporation’s payout ratio is 31.74%.
In other news, EVP Stephen B. Burke sold 258,380 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $38.99, for a total value of $10,074,236.20. Following the transaction, the executive vice president now owns 980,498 shares of the company’s stock, valued at approximately $38,229,617.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth J. Bacon sold 7,500 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the transaction, the director now directly owns 26,812 shares in the company, valued at approximately $1,085,886. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
Hedge funds have recently modified their holdings of the company. First Interstate Bank increased its stake in shares of Comcast Corporation by 33.2% in the second quarter. First Interstate Bank now owns 4,435 shares of the cable giant’s stock valued at $173,000 after buying an additional 1,106 shares during the last quarter. MEMBERS Trust Co increased its stake in shares of Comcast Corporation by 4.8% in the second quarter. MEMBERS Trust Co now owns 9,750 shares of the cable giant’s stock valued at $379,000 after buying an additional 445 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Comcast Corporation by 12.4% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 7,832 shares of the cable giant’s stock valued at $305,000 after buying an additional 862 shares during the last quarter. TRUE Private Wealth Advisors increased its stake in shares of Comcast Corporation by 4.3% in the second quarter. TRUE Private Wealth Advisors now owns 32,449 shares of the cable giant’s stock valued at $1,268,000 after buying an additional 1,329 shares during the last quarter. Finally, Fagan Associates Inc. acquired a new stake in shares of Comcast Corporation during the second quarter valued at approximately $202,000. 82.32% of the stock is currently owned by institutional investors and hedge funds.
Comcast Corporation Company Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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