Comcast (NASDAQ:CMCSA) Reaches New 52-Week Low – Time to Sell?

Comcast Corporation (NASDAQ:CMCSA) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $22.13 and last traded at $22.32, with a volume of 46034306 shares traded. The stock had previously closed at $22.43.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Rosenblatt Securities decreased their price objective on Comcast from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. BNP Paribas Exane decreased their price target on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 8th. Moffett Nathanson lowered their price target on shares of Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Finally, Evercore upped their price objective on shares of Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Comcast currently has an average rating of “Hold” and an average price target of $34.50.

Comcast Trading Down 0.5%

The company has a market capitalization of $79.73 billion, a PE ratio of 4.39, a PEG ratio of 1.83 and a beta of 0.68. The company has a fifty day simple moving average of $25.71 and a 200-day simple moving average of $28.16. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

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

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a dividend yield of 5.9%. Comcast’s dividend payout ratio is 25.98%.

Institutional Trading of Comcast

Several institutional investors have recently made changes to their positions in CMCSA. Imprint Wealth LLC purchased a new position in Comcast in the third quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new position in shares of Comcast in the 3rd quarter valued at $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Comcast in the 4th quarter valued at $27,000. Whipplewood Advisors LLC grew its holdings in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after purchasing an additional 401 shares during the period. Finally, Main Street Group LTD acquired a new stake in shares of Comcast during the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.