Morgan Stanley Raises Comcast (CMCSA) Price Target to $50.00
Comcast (NASDAQ:CMCSA) had its target price lifted by Morgan Stanley from $44.00 to $50.00 in a research report released on Tuesday morning, The Fly reports. They currently have an outperform rating on the cable giant’s stock.
CMCSA has been the subject of several other research reports. Nomura lowered their price objective on Comcast from $46.00 to $42.00 and set a buy rating for the company in a research report on Friday, October 27th. KeyCorp reiterated a neutral rating on shares of Comcast in a research report on Sunday, September 17th. Royal Bank of Canada reiterated a buy rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, October 18th. Moffett Nathanson reiterated a buy rating on shares of Comcast in a research report on Monday, October 16th. Finally, Pivotal Research restated a buy rating and set a $50.00 target price on shares of Comcast in a report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the stock. Comcast has a consensus rating of Buy and a consensus target price of $46.15.
Shares of Comcast (CMCSA) traded up $0.48 during mid-day trading on Tuesday, reaching $41.09. The company’s stock had a trading volume of 20,195,300 shares, compared to its average volume of 24,690,000. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.06. Comcast has a 12-month low of $34.78 and a 12-month high of $42.18. The company has a market capitalization of $192,050.00, a P/E ratio of 19.38, a P/E/G ratio of 1.85 and a beta of 1.00.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 26th. The cable giant reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The firm had revenue of $20.98 billion during the quarter, compared to the consensus estimate of $21.05 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. equities analysts forecast that Comcast will post 2.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be issued a $0.157 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $0.63 dividend on an annualized basis and a yield of 1.53%. Comcast’s dividend payout ratio (DPR) is 29.72%.
In other Comcast news, EVP Arthur R. Block sold 5,630 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $39.89, for a total value of $224,580.70. Following the completion of the transaction, the executive vice president now owns 71,664 shares in the company, valued at $2,858,676.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur R. Block sold 3,937 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $40.62, for a total value of $159,920.94. Following the completion of the transaction, the executive vice president now owns 65,946 shares of the company’s stock, valued at approximately $2,678,726.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 593,402 shares of company stock valued at $22,961,401. 1.28% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. Wealthcare Advisory Partners LLC purchased a new stake in shares of Comcast in the third quarter worth $104,000. Zions Bancorporation grew its stake in shares of Comcast by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock worth $106,000 after acquiring an additional 410 shares during the last quarter. Clear Perspective Advisors LLC grew its stake in shares of Comcast by 100.1% in the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock worth $106,000 after acquiring an additional 1,362 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new stake in shares of Comcast in the second quarter worth $107,000. Finally, First Bank & Trust grew its stake in shares of Comcast by 84.9% in the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock worth $111,000 after acquiring an additional 1,302 shares during the last quarter. Institutional investors and hedge funds own 82.13% of the company’s stock.
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Comcast 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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