Loop Capital Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price target lowered by Loop Capital from $54.00 to $53.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the cable giant’s stock.

A number of other equities research analysts also recently weighed in on CMCSA. TD Cowen lowered their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Comcast in a report on Tuesday, November 19th. Morgan Stanley cut Comcast from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $45.00 in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $47.75 to $48.00 in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and an average price target of $47.39.

Comcast Trading Up 0.7 %

Shares of CMCSA stock opened at $37.67 on Thursday. The company has a market cap of $144.15 billion, a P/E ratio of 10.13, a PEG ratio of 1.50 and a beta of 1.01. The stock has a 50 day simple moving average of $41.25 and a two-hundred day simple moving average of $40.26. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. Research analysts forecast that Comcast will post 4.26 earnings per share for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.29%. Comcast’s payout ratio is 33.33%.

Insider Activity at Comcast

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Institutional Trading of Comcast

Hedge funds have recently made changes to their positions in the company. Fairscale Capital LLC bought a new stake in shares of Comcast in the second quarter valued at $26,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Comcast in the third quarter valued at $30,000. McClarren Financial Advisors Inc. raised its stake in shares of Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares during the period. Iron Horse Wealth Management LLC raised its stake in shares of Comcast by 220.3% in the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after buying an additional 522 shares during the period. Finally, Archer Investment Corp raised its stake in shares of Comcast by 177.1% during the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares during the period. 84.32% of the stock is currently owned by institutional investors.

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.