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

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

Several other brokerages have also commented on CMCSA. The Goldman Sachs Group initiated coverage on shares of Comcast in a research report on Tuesday, June 25th. They issued a buy rating and a $44.00 price objective for the company. Rosenblatt Securities reiterated a neutral rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday. Evercore ISI reduced their target price on Comcast from $50.00 to $48.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Macquarie cut their price target on shares of Comcast from $43.00 to $40.00 and set a neutral rating on the stock in a report on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Comcast from $55.00 to $53.00 in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $47.28.

Comcast Price Performance

Shares of CMCSA opened at $39.69 on Wednesday. The company has a 50 day moving average of $38.53 and a two-hundred day moving average of $40.66. The company has a market cap of $155.73 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast has a twelve month low of $36.43 and a twelve month high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same quarter last year, the firm earned $1.13 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts predict that Comcast will post 4.22 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a yield of 3.12%. Comcast’s dividend payout ratio is presently 32.80%.

Insider Transactions at Comcast

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

Institutional Trading of Comcast

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Greenwich Wealth Management LLC increased its position in Comcast by 2.6% in the 4th 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 period. Legend Financial Advisors Inc. grew its stake in shares of Comcast by 17.5% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock worth $65,000 after purchasing an additional 220 shares in the last quarter. Beaumont Asset Management L.L.C. increased its holdings in shares of 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 purchasing an additional 226 shares during the period. Keystone Financial Services raised its stake in shares of 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 purchasing an additional 229 shares in the last quarter. Finally, Bollard Group LLC lifted its holdings in Comcast by 0.7% in the fourth quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after purchasing an additional 244 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

About Comcast

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.