Comcast (NASDAQ:CMCSA) Price Target Lowered to $40.00 at UBS Group

Comcast (NASDAQ:CMCSA) had its target price trimmed by UBS Group from $47.00 to $40.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the cable giant’s stock.

Several other research firms have also issued reports on CMCSA. Sanford C. Bernstein set a $38.00 target price on shares of Comcast in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Comcast from $45.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Benchmark reduced their price target on Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Bank of America cut Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $38.00 in a report on Friday, January 31st. Finally, The Goldman Sachs Group reduced their target price on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.64.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $37.37 on Tuesday. Comcast has a 1-year low of $32.50 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68. The business’s 50 day moving average is $35.89 and its two-hundred day moving average is $39.01. The stock has a market capitalization of $141.30 billion, a P/E ratio of 9.00, a PEG ratio of 1.78 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. As a group, research analysts expect that Comcast will post 4.33 EPS for the current year.

Comcast Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd will be paid a $0.33 dividend. This is an increase from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.53%. Comcast’s payout ratio is 31.81%.

Institutional Investors Weigh In On Comcast

Hedge funds have recently made changes to their positions in the stock. Promus Capital LLC bought a new position in Comcast in the fourth quarter worth about $25,000. Winch Advisory Services LLC grew its position in shares of Comcast by 269.9% in the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock worth $26,000 after buying an additional 502 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Comcast during the 4th quarter worth approximately $27,000. Wingate Wealth Advisors Inc. purchased a new stake in Comcast during the fourth quarter valued at approximately $28,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in Comcast in the third quarter valued at approximately $30,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

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.