Comcast (NASDAQ:CMCSA) Price Target Cut to $48.00 by Analysts at Evercore ISI

Comcast (NASDAQ:CMCSA) had its target price decreased by Evercore ISI from $50.00 to $48.00 in a research note released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the cable giant’s stock.

Several other equities analysts have also weighed in on CMCSA. Oppenheimer reiterated an outperform rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday, April 3rd. Macquarie dropped their price objective on shares of Comcast from $43.00 to $40.00 and set a neutral rating on the stock in a report on Monday, May 13th. Rosenblatt Securities reiterated a neutral rating and set a $45.00 price objective on shares of Comcast in a report on Friday, April 26th. Seaport Res Ptn lowered shares of Comcast from a strong-buy rating to a hold rating in a report on Monday, June 24th. Finally, BNP Paribas lowered shares of Comcast from a neutral rating to an underperform rating and set a $34.00 price objective on the stock. in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Comcast presently has an average rating of Hold and an average price target of $48.53.

Comcast Price Performance

CMCSA stock opened at $38.16 on Tuesday. The company has a fifty day moving average price of $38.67 and a 200-day moving average price of $41.32. The company has a market capitalization of $149.73 billion, a P/E ratio of 10.10, a PEG ratio of 0.98 and a beta of 1.00. Comcast has a 52-week low of $36.43 and a 52-week high of $47.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts expect that Comcast will post 4.21 EPS for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

Insider Activity

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Comcast

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hudson Valley Investment Advisors Inc. ADV grew its holdings in Comcast by 12.1% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 19,708 shares of the cable giant’s stock worth $772,000 after acquiring an additional 2,129 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Comcast by 4.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 334,534 shares of the cable giant’s stock worth $13,100,000 after acquiring an additional 15,756 shares during the last quarter. First Hawaiian Bank grew its holdings in Comcast by 8.9% in the 2nd quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock worth $7,513,000 after acquiring an additional 15,664 shares during the last quarter. GAMMA Investing LLC grew its holdings in Comcast by 38.8% in the 2nd quarter. GAMMA Investing LLC now owns 39,405 shares of the cable giant’s stock worth $1,543,000 after acquiring an additional 11,016 shares during the last quarter. Finally, Davis Capital Management grew its holdings in Comcast by 1.5% in the 2nd quarter. Davis Capital Management now owns 37,862 shares of the cable giant’s stock worth $1,445,000 after acquiring an additional 566 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

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.