Comcast (NASDAQ:CMCSA) Hits New 1-Year Low After Analyst Downgrade

Comcast Corporation (NASDAQ:CMCSA)’s stock price reached a new 52-week low during trading on Wednesday after Loop Capital lowered their price target on the stock from $44.00 to $43.00. Loop Capital currently has a buy rating on the stock. Comcast traded as low as $30.99 and last traded at $31.24, with a volume of 2008780 shares changing hands. The stock had previously closed at $31.42.

Other analysts have also issued research reports about the company. Morgan Stanley dropped their price target on Comcast from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, August 4th. Moffett Nathanson raised their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Rothschild & Co Redburn reduced their price target on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. UBS Group decreased their price target on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, August 1st. Finally, Arete Research raised Comcast to a “hold” rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus price target of $40.07.

Institutional Trading of Comcast

Several institutional investors have recently bought and sold shares of the company. Capital A Wealth Management LLC grew its holdings in shares of Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the last quarter. Inlight Wealth Management LLC bought a new position in Comcast in the 1st quarter valued at approximately $26,000. Cranbrook Wealth Management LLC increased its holdings in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares in the last quarter. Global Trust Asset Management LLC raised its stake in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the last quarter. Finally, Avalon Trust Co lifted its holdings in shares of Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Price Performance

The firm has a fifty day moving average of $32.79 and a 200 day moving average of $34.20. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $112.24 billion, a P/E ratio of 5.02, a P/E/G ratio of 1.81 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The firm had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. During the same quarter last year, the firm posted $1.21 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio is presently 21.82%.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.