TD Cowen Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price objective reduced by TD Cowen from $50.00 to $48.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the cable giant’s stock.

A number of other brokerages also recently issued reports on CMCSA. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $47.75 to $48.00 in a research note on Friday. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, KeyCorp raised their price target on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.63.

Comcast Stock Down 0.3 %

Comcast stock opened at $43.56 on Friday. The stock has a fifty day moving average of $40.80 and a 200 day moving average of $39.58. The stock has a market cap of $168.69 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.00. Comcast has a one year low of $36.43 and a one year high of $47.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.66 and a current ratio of 0.72.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 earnings per share. As a group, sell-side analysts predict that Comcast will post 4.24 EPS for the current year.

Comcast Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, January 8th. Comcast’s payout ratio is 33.33%.

Institutional Investors Weigh In On Comcast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its stake in Comcast by 5.9% in the third quarter. Covestor Ltd now owns 7,372 shares of the cable giant’s stock worth $308,000 after purchasing an additional 413 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its position in Comcast by 1.7% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 63,936 shares of the cable giant’s stock valued at $2,671,000 after purchasing an additional 1,067 shares during the period. Lindbrook Capital LLC lifted its position in shares of Comcast by 26.2% in the 3rd quarter. Lindbrook Capital LLC now owns 32,853 shares of the cable giant’s stock worth $1,372,000 after purchasing an additional 6,818 shares during the period. Processus Wealth & Capital Management LLC boosted its stake in shares of Comcast by 0.7% during the third quarter. Processus Wealth & Capital Management LLC now owns 44,934 shares of the cable giant’s stock valued at $1,877,000 after purchasing an additional 323 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Comcast by 2.4% during the third quarter. Assetmark Inc. now owns 2,501,326 shares of the cable giant’s stock valued at $104,480,000 after buying an additional 57,848 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Company Profile

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.