Comcast (NASDAQ:CMCSA) Price Target Lowered to $32.75 at Scotiabank

Comcast (NASDAQ:CMCSA) had its target price decreased by Scotiabank from $36.00 to $32.75 in a research note issued to investors on Wednesday morning, MarketBeat reports. Scotiabank currently has a sector perform rating on the cable giant’s stock.

A number of other research analysts have also recently commented on CMCSA. Wells Fargo & Company lowered their target price on Comcast from $29.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a research note on Monday, July 6th. Morgan Stanley decreased their price objective on Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a “hold” rating to a “buy” rating and dropped their target price for the company from $34.00 to $32.00 in a report on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.64.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $23.49 on Wednesday. Comcast has a 1 year low of $22.13 and a 1 year high of $36.01. The stock has a market capitalization of $83.91 billion, a P/E ratio of 4.62, a P/E/G ratio of 1.91 and a beta of 0.67. The company’s 50-day moving average is $24.08 and its 200 day moving average is $27.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share. On average, sell-side analysts expect that Comcast will post 3.49 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. Comcast’s payout ratio is presently 25.98%.

Institutional Trading of Comcast

Several institutional investors have recently added to or reduced their stakes in CMCSA. Lowe Brockenbrough & Co. Inc. increased its stake in shares of Comcast by 4.9% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock valued at $225,000 after acquiring an additional 352 shares during the last quarter. Cora Capital Advisors LLC boosted its stake in Comcast by 3.4% during the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after acquiring an additional 362 shares during the last quarter. Oakworth Capital Inc. boosted its stake in Comcast by 7.4% during the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock worth $164,000 after acquiring an additional 377 shares during the last quarter. WPG Advisers LLC raised its holdings in Comcast by 15.9% in the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock worth $84,000 after purchasing an additional 384 shares during the period. Finally, Addison Advisors LLC raised its holdings in Comcast by 55.7% in the fourth quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock worth $32,000 after purchasing an additional 384 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast News Summary

Here are the key news stories impacting Comcast this week:

• Negative Sentiment: Scotiabank lowered its price target on Comcast to $32.75 from $36 and kept a sector perform rating, signaling more cautious near-term expectations. Scotiabank cuts Comcast target
• Negative Sentiment: Wells Fargo trimmed its price target to $28 from $29 and maintained an underweight rating, suggesting the firm still sees limited upside. Wells Fargo view on Comcast
• Negative Sentiment: BNP Paribas Exane cut its target to $22 from $25 and reiterated an underperform rating, adding to the bearish analyst sentiment around CMCSA. BNP Paribas Exane cuts Comcast target
• Negative Sentiment: Comcast agreed to a $117.5 million settlement over the Xfinity data breach, which adds legal, reputational, and governance overhangs for investors. Xfinity data breach settlement
• Negative Sentiment: Bernstein cut price targets across major telecom names, including Comcast, citing valuation risk tied to SpaceX/Starlink’s potential direct-to-consumer mobile plans. Bernstein cuts telecom targets
• Neutral Sentiment: Some recent commentary argues Comcast may be trading below fair value after a roughly 49% five-year slide, which could support a rebound if fundamentals stabilize. Fair value article
• Neutral Sentiment: One market update noted Comcast has recently outperformed the broader market, but the move appears modest and does not offset the more prominent analyst and legal concerns. Market performance article

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.