Comcast (NASDAQ:CMCSA) Stock Gets Price Target Reduction from TD Cowen

Comcast (NASDAQ:CMCSA) had its target price decreased by TD Cowen from $39.00 to $36.00 in a research note issued to investors on Friday morning,Benzinga reports. TD Cowen currently has a buy rating on the cable giant’s stock.

A number of other research firms have also recently commented on CMCSA. Morgan Stanley cut their target price on Comcast from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, September 25th. BNP Paribas Exane decreased their price target on Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Bank of America restated a “buy” rating and set a $35.00 price objective (down from $37.00) on shares of Comcast in a report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and dropped their price objective for the company from $34.00 to $32.00 in a report on Tuesday, June 30th. Finally, Citigroup cut their price objective on Comcast from $30.00 to $27.50 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Eleven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.58.

Comcast Stock Performance

Shares of NASDAQ:CMCSA opened at $22.69 on Friday. The company has a market capitalization of $80.52 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 1.61 and a beta of 0.68. Comcast has a 12 month low of $20.48 and a 12 month high of $32.85. The firm’s 50-day moving average is $23.80 and its 200 day moving average is $24.61. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.91.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Comcast had a net margin of 9.20% and a return on equity of 14.64%. The company had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.22 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts predict that Comcast will post 3.52 EPS for the current year.

Comcast Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, January 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.8%. Comcast’s dividend payout ratio is presently 41.77%.

Hedge Funds Weigh In On Comcast

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after acquiring an additional 3,783,234 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Comcast by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock valued at $845,919,000 after purchasing an additional 507,097 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Comcast by 4.9% in the 1st quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock valued at $390,231,000 after purchasing an additional 630,902 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Comcast by 824.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock valued at $333,509,000 after purchasing an additional 10,359,800 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Comcast by 5.7% in the 1st quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock worth $306,227,000 after purchasing an additional 574,300 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast News Summary

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast reported third-quarter adjusted earnings of $1.07 per share, above the roughly $0.99 analyst consensus, while revenue of $29.3 billion was broadly in line with expectations. Wireless growth, improved Peacock profitability and strong film performance helped offset weakness elsewhere. Comcast beats earnings expectations as media revenue offsets weakness in connectivity
• Positive Sentiment: Management said approximately 70% of wireless trial lines converted to paid accounts, indicating that the wireless business may be gaining traction as Comcast seeks to diversify beyond broadband. Peacock also reached profitability, supporting momentum ahead of the planned NBCUniversal spinoff. Comcast: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Comcast declared a quarterly dividend of $0.33 per share, or $1.32 annually, offering an approximately 5.8% yield based on the reported share price. The payout may appeal to income-oriented investors, although the yield also reflects broader concerns about the stock’s growth outlook. Comcast Declares Quarterly Dividend
• Neutral Sentiment: The proposed separation of NBCUniversal from Comcast’s broadband, pay-TV and wireless operations could unlock value by allowing each business to pursue a more focused strategy. However, execution and the final structure of the transaction remain important uncertainties. Comcast Co-CEO Brian Roberts Touts Staffers’ Energy and Excitement About Pending NBCUniversal Split
• Negative Sentiment: Domestic broadband and video subscriber losses continued, with satellite and other competitors intensifying pressure on Comcast’s core connectivity business. Revenue fell about 6% year over year, and adjusted earnings declined from the prior-year quarter despite the EPS beat. Comcast broadband losses deepen as competition pressures core business
• Negative Sentiment: Comcast expects a fourth-quarter restructuring charge exceeding $1 billion, including layoffs, as it overhauls its connectivity operations. Analysts including TD Cowen, Goldman Sachs and Citi lowered price targets, underscoring investor concern that broadband weakness may persist. Comcast Flags $1 Billion Q4 Charge for Layoffs and Restructuring

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.