Comcast (NASDAQ:CMCSA) Sets New 12-Month Low – Time to Sell?

Comcast Corporation (NASDAQ:CMCSA) shares hit a new 52-week low on Wednesday. The company traded as low as $21.12 and last traded at $21.2530, with a volume of 1983464 shares changing hands. The stock had previously closed at $21.56.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CMCSA shares. Sanford C. Bernstein restated a “market perform” rating and issued a $28.00 price target on shares of Comcast in a research note on Monday, July 13th. Barclays set a $24.00 target price on shares of Comcast and gave the company an “equal weight” rating in a research report on Tuesday, September 29th. Raymond James Financial reissued a “market perform” rating on shares of Comcast in a report on Friday, October 2nd. Scotiabank cut their target price on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating on the stock in a research report on Friday, October 2nd. Finally, Freedom Capital raised shares of Comcast to a “hold” rating in a research report on Friday, June 12th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Comcast Stock Performance

The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average of $24.70 and a 200-day moving average of $25.25. The company has a market cap of $74.75 billion, a PE ratio of 6.83, a PEG ratio of 1.55 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.Comcast’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, analysts anticipate that Comcast Corporation will post 3.49 earnings per share for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio is presently 42.72%.

Institutional Investors Weigh In On Comcast

Large investors have recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton increased its holdings in shares of Comcast by 685.7% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 8,391 shares of the cable giant’s stock worth $195,000 after buying an additional 7,323 shares during the last quarter. Park National Corp OH grew its position in Comcast by 23.6% in the third quarter. Park National Corp OH now owns 19,445 shares of the cable giant’s stock worth $423,000 after acquiring an additional 3,717 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Comcast by 12.3% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 68,822 shares of the cable giant’s stock valued at $1,517,000 after acquiring an additional 7,562 shares during the last quarter. Miller Global Investments LLC increased its stake in Comcast by 378.9% in the third quarter. Miller Global Investments LLC now owns 3,520 shares of the cable giant’s stock valued at $77,000 after acquiring an additional 2,785 shares during the last quarter. Finally, Planning Strategies Inc. raised its position in Comcast by 471.6% during the third quarter. Planning Strategies Inc. now owns 1,492 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 1,231 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.