Traders Buy Comcast (CMCSA) on Weakness
Investors purchased shares of Comcast Corporation (NASDAQ:CMCSA) on weakness during trading hours on Thursday. $201.29 million flowed into the stock on the tick-up and $146.47 million flowed out of the stock on the tick-down, for a money net flow of $54.82 million into the stock. Of all companies tracked, Comcast had the 6th highest net in-flow for the day. Comcast traded down ($0.74) for the day and closed at $37.89
CMCSA has been the subject of several recent research reports. ValuEngine cut shares of Comcast from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Pivotal Research upped their price target on shares of Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Moffett Nathanson raised shares of Comcast from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, September 12th. They noted that the move was a valuation call. Barclays dropped their price target on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. Finally, KeyCorp reaffirmed a “neutral” rating on shares of Comcast in a research report on Sunday, September 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have given a buy rating to the stock. Comcast presently has an average rating of “Buy” and an average target price of $45.72.
The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.06. The stock has a market cap of $177,089.19, a P/E ratio of 18.80, a P/E/G ratio of 1.81 and a beta of 1.01.
Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The business had revenue of $20.98 billion for the quarter, compared to the consensus estimate of $21.05 billion. During the same period in the prior year, the company posted $0.92 earnings per share. Comcast’s revenue was down 1.6% compared to the same quarter last year. analysts forecast that Comcast Corporation will post 2.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be paid a $0.157 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a dividend yield of 1.65%. Comcast’s dividend payout ratio (DPR) is presently 30.36%.
In other Comcast news, EVP Arthur R. Block sold 4,091 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the sale, the executive vice president now directly owns 68,478 shares in the company, valued at $2,626,816.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth J. Bacon sold 2,232 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $37.27, for a total transaction of $83,186.64. Following the completion of the sale, the director now owns 24,580 shares in the company, valued at $916,096.60. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Comcast by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after buying an additional 8,677,771 shares during the last quarter. State Street Corp raised its holdings in Comcast by 97.6% in the 1st quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after buying an additional 98,570,377 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Comcast by 97.6% in the 1st quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock valued at $3,663,324,000 after buying an additional 48,147,456 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Comcast by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock valued at $2,218,587,000 after buying an additional 680,012 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Comcast by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 53,054,928 shares of the cable giant’s stock valued at $2,041,312,000 after buying an additional 432,491 shares during the last quarter. Institutional investors own 82.50% of the company’s stock.
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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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