Comcast (NASDAQ:CMCSA) Hits New 52-Week Low Following Analyst Downgrade

Shares of Comcast Corporation (NASDAQ:CMCSA) hit a new 52-week low during trading on Wednesday after Moffett Nathanson lowered their price target on the stock from $53.00 to $52.00. Moffett Nathanson currently has a buy rating on the stock. Comcast traded as low as $23.03 and last traded at $23.2150, with a volume of 2196070 shares changing hands. The stock had previously closed at $23.66.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft cut Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research report on Friday, April 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating and set a $29.00 price target on shares of Comcast in a research report on Thursday, April 23rd. Citigroup raised their price objective on Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Rosenblatt Securities decreased their price target on Comcast from $30.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus price target of $34.52.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Comcast by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after acquiring an additional 2,160,829 shares during the last quarter. State Street Corp increased its position in Comcast by 3.4% during the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the period. Capital World Investors lifted its position in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after purchasing an additional 24,166,881 shares during the period. Dodge & Cox increased its holdings in Comcast by 0.4% during the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock valued at $3,376,599,000 after buying an additional 399,596 shares during the period. Finally, Geode Capital Management LLC boosted its position in Comcast by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock valued at $2,680,747,000 after acquiring an additional 1,465,428 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Trading Down 1.6%

The company has a 50-day moving average price of $26.15 and a 200 day moving average price of $28.28. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $83.18 billion, a P/E ratio of 4.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, research analysts forecast that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.7%. Comcast’s dividend payout ratio (DPR) is 25.98%.

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.