Comcast (NASDAQ:CMCSA) Cut to Neutral at Guggenheim

Guggenheim lowered shares of Comcast (NASDAQ:CMCSA) from a buy rating to a neutral rating in a report released on Tuesday morning, 24/7 WallStreet reports.

Several other brokerages have also recently issued reports on CMCSA. Pivotal Research reaffirmed a buy rating and set a $48.00 target price on shares of Comcast in a research report on Thursday, April 30th. Rosenblatt Securities reaffirmed a buy rating and set a $44.00 target price on shares of Comcast in a research report on Thursday, April 30th. Wells Fargo & Co lifted their target price on Comcast from $37.00 to $42.00 and gave the company an overweight rating in a research report on Friday, May 1st. Credit Suisse Group cut their price objective on Comcast from $51.00 to $50.00 and set an outperform rating on the stock in a research report on Friday, March 27th. Finally, Barclays reissued a buy rating and issued a $44.00 price objective on shares of Comcast in a research report on Friday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Comcast currently has an average rating of Buy and a consensus price target of $48.19.

Comcast stock traded down $0.21 during mid-day trading on Tuesday, reaching $38.74. The stock had a trading volume of 12,382,910 shares, compared to its average volume of 22,304,594. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.87 and a current ratio of 0.87. Comcast has a fifty-two week low of $31.70 and a fifty-two week high of $47.74. The stock’s 50-day simple moving average is $36.66 and its 200-day simple moving average is $41.60. The firm has a market capitalization of $178.34 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.61 and a beta of 0.95.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 30th. The cable giant reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Comcast had a return on equity of 17.56% and a net margin of 10.72%. The firm had revenue of $26.61 billion during the quarter, compared to analysts’ expectations of $26.71 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts forecast that Comcast will post 2.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.37%. Comcast’s payout ratio is 29.39%.

In other Comcast news, CAO Daniel C. Murdock sold 919 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $37.53, for a total value of $34,490.07. Following the transaction, the chief accounting officer now directly owns 2,654 shares in the company, valued at approximately $99,604.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David N. Watson sold 202,782 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $37.05, for a total value of $7,513,073.10. Following the completion of the transaction, the executive vice president now owns 893,424 shares in the company, valued at $33,101,359.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,739 shares of company stock worth $7,585,502. 1.35% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cim Investment Mangement Inc. boosted its holdings in shares of Comcast by 3.5% in the 1st quarter. Cim Investment Mangement Inc. now owns 21,087 shares of the cable giant’s stock worth $725,000 after purchasing an additional 706 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Comcast by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 1,162,442 shares of the cable giant’s stock worth $39,978,000 after purchasing an additional 15,993 shares in the last quarter. Capital Advisors Inc. OK purchased a new position in shares of Comcast in the 1st quarter worth about $262,000. Phoenix Holdings Ltd. purchased a new position in shares of Comcast in the 1st quarter worth about $1,823,000. Finally, Johnson Investment Counsel Inc. boosted its holdings in shares of Comcast by 1.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,142,082 shares of the cable giant’s stock worth $39,528,000 after purchasing an additional 12,019 shares in the last quarter. Institutional investors and hedge funds own 82.12% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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