Jefferies Group Reaffirms “Buy” Rating for Comcast Corp. (CMCSA)
Comcast Corp. (NASDAQ:CMCSA)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a research note issued on Friday. They currently have a $77.00 price target on the cable giant’s stock. Jefferies Group’s target price suggests a potential upside of 17.72% from the company’s current price.
Several other equities research analysts also recently weighed in on CMCSA. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $70.00 price objective on shares of Comcast Corp. in a report on Monday, July 11th. RBC Capital Markets reissued an “outperform” rating and issued a $72.00 price objective (up from $70.00) on shares of Comcast Corp. in a report on Thursday, July 28th. Robert W. Baird reissued an “outperform” rating and issued a $67.00 price objective on shares of Comcast Corp. in a report on Tuesday, June 28th. Nomura reissued a “buy” rating on shares of Comcast Corp. in a report on Monday, June 27th. Finally, Pacific Crest increased their price objective on Comcast Corp. from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Comcast Corp. has a consensus rating of “Buy” and a consensus price target of $72.00.
Comcast Corp. (NASDAQ:CMCSA) traded down 0.08% during trading on Friday, hitting $65.36. 5,618,656 shares of the stock traded hands. Comcast Corp. has a 12 month low of $52.34 and a 12 month high of $68.36. The stock has a market cap of $157.64 billion, a P/E ratio of 19.87 and a beta of 1.05. The firm’s 50-day moving average is $66.03 and its 200-day moving average is $64.14.
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Comcast Corp. (NASDAQ:CMCSA) last announced its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $18.74 billion for the quarter, compared to analyst estimates of $19.11 billion. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, analysts forecast that Comcast Corp. will post $3.52 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, October 3rd. Comcast Corp.’s dividend payout ratio is currently 33.43%.
In related news, Chairman Brian L. Roberts sold 304,109 shares of Comcast Corp. stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.26, for a total transaction of $20,454,371.34. Following the completion of the sale, the chairman now owns 630,596 shares in the company, valued at approximately $42,413,886.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Neil Smit sold 29,475 shares of Comcast Corp. stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.86, for a total value of $2,000,173.50. Following the sale, the executive vice president now owns 81,410 shares of the company’s stock, valued at approximately $5,524,482.60. The disclosure for this sale can be found here. 1.27% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. Allen Investment Management LLC boosted its stake in Comcast Corp. by 9.4% in the first quarter. Allen Investment Management LLC now owns 1,164,888 shares of the cable giant’s stock worth $71,151,000 after buying an additional 100,472 shares in the last quarter. Gofen & Glossberg LLC IL boosted its stake in Comcast Corp. by 0.5% in the second quarter. Gofen & Glossberg LLC IL now owns 674,704 shares of the cable giant’s stock worth $43,984,000 after buying an additional 3,403 shares in the last quarter. Grisanti Capital Management LLC boosted its stake in Comcast Corp. by 87.3% in the second quarter. Grisanti Capital Management LLC now owns 205,065 shares of the cable giant’s stock worth $13,368,000 after buying an additional 95,590 shares in the last quarter. Intermede Investment Partners Ltd boosted its stake in Comcast Corp. by 2.1% in the second quarter. Intermede Investment Partners Ltd now owns 854,654 shares of the cable giant’s stock worth $55,715,000 after buying an additional 17,312 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in Comcast Corp. by 51.0% in the first quarter. First Republic Investment Management Inc. now owns 661,284 shares of the cable giant’s stock worth $40,390,000 after buying an additional 223,379 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.
About Comcast Corp.
Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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