Comcast (CMCSA) Lowered to “Neutral” at Instinet

Instinet lowered shares of Comcast (NASDAQ:CMCSA) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning. They currently have $45.00 price target on the cable giant’s stock, up from their previous price target of $42.00.

A number of other equities research analysts have also recently weighed in on the company. Pivotal Research lifted their price objective on Comcast from $48.00 to $50.00 and gave the company a buy rating in a research note on Friday, October 27th. Barclays dropped their price objective on Comcast from $44.00 to $41.00 and set an overweight rating for the company in a research note on Friday, October 27th. Wells Fargo & Co reaffirmed a buy rating and issued a $49.00 price objective on shares of Comcast in a research note on Monday, October 23rd. Robert W. Baird reaffirmed a buy rating and issued a $43.00 price objective on shares of Comcast in a research note on Friday, November 17th. Finally, Morgan Stanley lifted their price objective on Comcast from $44.00 to $50.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $46.83.

Comcast (NASDAQ:CMCSA) traded up $0.65 during trading hours on Thursday, reaching $42.50. The company’s stock had a trading volume of 23,591,600 shares, compared to its average volume of 20,313,563. Comcast has a 12 month low of $34.78 and a 12 month high of $42.71. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $200,040.00, a P/E ratio of 20.05, a P/E/G ratio of 1.84 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The company had revenue of $20.98 billion for the quarter, compared to the consensus estimate of $21.05 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. equities analysts expect that Comcast will post 2.05 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be paid a dividend of $0.157 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.48%. Comcast’s payout ratio is 29.72%.

In other Comcast news, EVP Arthur R. Block sold 3,937 shares of Comcast stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $40.62, for a total transaction of $159,920.94. Following the completion of the sale, the executive vice president now directly owns 65,946 shares of the company’s stock, valued at approximately $2,678,726.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of Comcast stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.67, for a total value of $22,576,899.45. Following the sale, the chairman now directly owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The disclosure for this sale can be found here. Insiders have sold a total of 593,402 shares of company stock valued at $22,961,401 over the last three months. 1.28% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CMCSA. Vanguard Group Inc. lifted its holdings in shares of Comcast by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 316,845,966 shares of the cable giant’s stock valued at $12,331,646,000 after purchasing an additional 8,677,771 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Comcast by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 57,003,759 shares of the cable giant’s stock valued at $2,218,587,000 after purchasing an additional 680,012 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Comcast by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 53,054,928 shares of the cable giant’s stock valued at $2,041,312,000 after purchasing an additional 432,491 shares during the last quarter. Capital International Investors lifted its holdings in shares of Comcast by 23.3% in the 3rd quarter. Capital International Investors now owns 34,256,110 shares of the cable giant’s stock valued at $1,318,175,000 after purchasing an additional 6,467,802 shares during the last quarter. Finally, Veritas Asset Management LLP lifted its holdings in shares of Comcast by 3.7% in the 3rd quarter. Veritas Asset Management LLP now owns 33,195,373 shares of the cable giant’s stock valued at $1,277,358,000 after purchasing an additional 1,189,200 shares during the last quarter. 82.26% of the stock is owned by institutional investors.

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Comcast Company Profile

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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