Morgan Stanley Reaffirms “Overweight” Rating for Comcast Corporation (CMCSA)
Morgan Stanley reiterated their overweight rating on shares of Comcast Corporation (NASDAQ:CMCSA) in a research note published on Thursday. The brokerage currently has a $44.00 target price on the cable giant’s stock.
Other equities analysts have also recently issued research reports about the company. Barclays PLC set a $44.00 price target on Comcast Corporation and gave the stock a buy rating in a research note on Friday, July 14th. ValuEngine raised Comcast Corporation from a hold rating to a buy rating in a research note on Thursday, July 13th. TD Securities started coverage on Comcast Corporation in a research note on Thursday, July 13th. They issued a buy rating and a $51.00 price target on the stock. Royal Bank Of Canada reissued a buy rating and issued a $45.00 price target on shares of Comcast Corporation in a research note on Sunday, July 9th. Finally, Jefferies Group LLC reissued a buy rating and issued a $47.00 price target on shares of Comcast Corporation in a research note on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Comcast Corporation presently has an average rating of Buy and a consensus price target of $45.83.
Comcast Corporation (NASDAQ:CMCSA) opened at 38.10 on Thursday. The stock has a market capitalization of $179.58 billion, a price-to-earnings ratio of 19.19 and a beta of 1.01. Comcast Corporation has a 12-month low of $30.02 and a 12-month high of $42.18. The firm has a 50-day moving average of $39.84 and a 200-day moving average of $39.19.
Comcast Corporation (NASDAQ:CMCSA) last released its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $21.17 billion for the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a return on equity of 16.80% and a net margin of 11.45%. Comcast Corporation’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. Equities research analysts forecast that Comcast Corporation will post $2.04 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “Morgan Stanley Reaffirms “Overweight” Rating for Comcast Corporation (CMCSA)” was first published by Daily Political and is the property of of Daily Political. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.dailypolitical.com/2017/09/24/morgan-stanley-reaffirms-overweight-rating-for-comcast-corporation-cmcsa.html.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.63 annualized dividend and a dividend yield of 1.65%. Comcast Corporation’s dividend payout ratio is 31.74%.
In related news, Director Kenneth J. Bacon sold 2,232 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the sale, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $39.61, for a total value of $144,932.99. Following the completion of the sale, the senior vice president now owns 725 shares of the company’s stock, valued at $28,717.25. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MPS Loria Financial Planners LLC acquired a new stake in Comcast Corporation in the 2nd quarter worth approximately $107,000. Griffin Asset Management Inc. acquired a new stake in Comcast Corporation in the 2nd quarter worth approximately $599,000. Achmea Investment Management B.V. lifted its holdings in Comcast Corporation by 25.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 357,071 shares of the cable giant’s stock worth $13,893,000 after purchasing an additional 73,119 shares during the last quarter. RNC Capital Management LLC lifted its holdings in Comcast Corporation by 9.4% in the 2nd quarter. RNC Capital Management LLC now owns 8,158 shares of the cable giant’s stock worth $318,000 after purchasing an additional 704 shares during the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in Comcast Corporation by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 380,573 shares of the cable giant’s stock worth $14,812,000 after purchasing an additional 4,034 shares during the last quarter. Hedge funds and other institutional investors own 81.93% of the company’s stock.
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.
Receive News & Ratings for Comcast Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast Corporation and related companies with MarketBeat.com's FREE daily email newsletter.