Comcast (NASDAQ:CMCSA) Sets New 52-Week Low – Time to Sell?

Comcast Corporation (NASDAQ:CMCSA) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $22.13 and last traded at $22.32, with a volume of 46034306 shares. The stock had previously closed at $22.43.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of research analyst reports. New Street Research dropped their price target on Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Moffett Nathanson lowered their price objective on shares of Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Freedom Capital upgraded shares of Comcast to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 price target on shares of Comcast in a research report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $34.50.

Comcast Trading Down 0.7%

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The firm has a market cap of $80.88 billion, a price-to-earnings ratio of 4.46, a price-to-earnings-growth ratio of 1.86 and a beta of 0.67. The business has a 50 day moving average of $25.50 and a 200 day moving average of $28.10.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same period in the prior year, the firm earned $1.09 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. Comcast’s dividend payout ratio (DPR) is 25.98%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CMCSA. Vanguard Group Inc. boosted its holdings in shares of Comcast by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the last quarter. State Street Corp increased its stake in Comcast by 3.4% in the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the last quarter. Capital World Investors increased its stake in Comcast by 20.8% in the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares during the last quarter. Dodge & Cox lifted its position in Comcast by 0.4% during the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after buying an additional 399,596 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Comcast by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock worth $2,680,747,000 after buying an additional 1,465,428 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.