KeyCorp Lowers Comcast (NASDAQ:CMCSA) Price Target to $44.00

Comcast (NASDAQ:CMCSA) had its target price decreased by KeyCorp from $45.00 to $44.00 in a report released on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the cable giant’s stock.

Several other research analysts have also commented on the company. Evercore ISI decreased their target price on Comcast from $50.00 to $48.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Benchmark reissued a buy rating and issued a $55.00 price target on shares of Comcast in a report on Monday, May 13th. Oppenheimer reissued an outperform rating and issued a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. Finally, BNP Paribas downgraded Comcast from a neutral rating to an underperform rating and set a $34.00 price target on the stock. in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $46.96.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $39.69 on Wednesday. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.46. The business has a 50 day moving average price of $38.53 and a two-hundred day moving average price of $40.65. The company has a quick ratio of 0.59, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The firm has a market cap of $155.73 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. Sell-side analysts expect that Comcast will post 4.26 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Wednesday, October 2nd. Comcast’s payout ratio is 32.80%.

Insider Buying and Selling

In related news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares in the company, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Greenwich Wealth Management LLC boosted its position in Comcast by 2.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after acquiring an additional 219 shares during the last quarter. Legend Financial Advisors Inc. boosted its position in Comcast by 17.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after acquiring an additional 220 shares during the last quarter. Beaumont Asset Management L.L.C. boosted its position in Comcast by 1.6% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after acquiring an additional 226 shares during the last quarter. Keystone Financial Services boosted its position in Comcast by 1.1% during the fourth quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after acquiring an additional 229 shares during the last quarter. Finally, Bollard Group LLC boosted its position in Comcast by 0.7% during the fourth quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock valued at $1,622,000 after acquiring an additional 244 shares during the last quarter. Hedge funds and other 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.