Comcast’s Neutral Rating Reiterated at Zacks (CMCSA)
Comcast (NASDAQ:CMCSA)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Wednesday. They currently have a $58.00 price target on the stock. Zacks‘s price objective would suggest a potential upside of 5.88% from the company’s current price.
Zacks’ analyst wrote, “Comcast reported mixed financial results for the second quarter of 2014 wherein its bottom line surpassed the Zacks Consensus Estimate while the top line missed the same. The company’s Cable business continues to show strength and the NBC Universal segment is also witnessing improvement. Moreover, extension of Olympic telecast rights, a string of innovative service launches and higher demand for metro Ethernet services are likely to spur growth for Comcast. Meanwhile, the company is planning to acquire Time Warner Cable which is expected to strengthen its foothold in the U.S. pay-TV market. However, the U.S. pay-TV market is nearing saturation. Moreover, intensifying competition from large carriers and low-cost video streaming companies, mounting programming costs, and persistent video subscriber loss pose significant headwinds for the company. We, thus, maintain our Neutral recommendation on Comcast.”
Shares of Comcast (NASDAQ:CMCSA) traded down 0.18% during mid-day trading on Wednesday, hitting $54.68. The stock had a trading volume of 4,820,051 shares. Comcast has a 1-year low of $42.09 and a 1-year high of $56.49. The stock’s 50-day moving average is $54.30 and its 200-day moving average is $52.22. The company has a market cap of $141.5 billion and a P/E ratio of 19.29.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $16.84 billion for the quarter, compared to the consensus estimate of $16.99 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, analysts predict that Comcast will post $2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, September 29th.
CMCSA has been the subject of a number of other recent research reports. Analysts at Goldman Sachs initiated coverage on shares of Comcast in a research note on Tuesday. They set a “buy” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Comcast from $58.00 to $62.00 in a research note on Thursday, July 24th. They now have an “outperform” rating on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of Comcast in a research note on Wednesday, July 23rd. They now have a $63.00 price target on the stock, up previously from $61.00. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $62.35.
In other Comcast news, Director Joseph J. Collins unloaded 8,996 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $54.42, for a total transaction of $489,562.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Comcast Corporation (NASDAQ:CMCSA) to residential and business customers.
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