JPMorgan Chase & Co. Initiates Coverage on Comcast (CMCSA)

JPMorgan Chase & Co. assumed coverage on shares of Comcast (NASDAQ:CMCSA) in a research note published on Friday, The Fly reports. The brokerage issued an overweight rating and a $42.00 price target on the cable giant’s stock.

Several other equities analysts have also issued reports on CMCSA. Pivotal Research reissued a buy rating and issued a $45.00 price target on shares of Comcast in a research note on Tuesday, June 26th. BidaskClub raised Comcast from a sell rating to a hold rating in a research note on Friday, June 15th. Robert W. Baird dropped their price target on Comcast from $42.00 to $41.00 and set an outperform rating on the stock in a research note on Monday, July 30th. Raymond James raised Comcast from a market perform rating to an outperform rating in a research note on Thursday, July 19th. Finally, Credit Suisse Group assumed coverage on Comcast in a research note on Tuesday, July 10th. They issued a neutral rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Comcast presently has an average rating of Buy and an average target price of $44.85.

Shares of Comcast stock traded up $0.95 during midday trading on Friday, reaching $34.62. The company had a trading volume of 31,255,567 shares, compared to its average volume of 25,329,504. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $164.46 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.12 and a beta of 1.19. Comcast has a fifty-two week low of $30.43 and a fifty-two week high of $44.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 26th. The cable giant reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.04. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.85 billion. Comcast had a return on equity of 15.92% and a net margin of 27.42%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. Equities analysts anticipate that Comcast will post 2.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Wednesday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, October 2nd. This represents a $0.76 annualized dividend and a dividend yield of 2.20%. Comcast’s dividend payout ratio is 36.89%.

In other news, EVP Arthur R. Block sold 1,082 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $35.94, for a total transaction of $38,887.08. Following the completion of the sale, the executive vice president now owns 62,476 shares in the company, valued at $2,245,387.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Arthur R. Block sold 6,448 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $35.48, for a total value of $228,775.04. Following the sale, the executive vice president now owns 74,644 shares of the company’s stock, valued at approximately $2,648,369.12. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WP Advisors LLC purchased a new position in shares of Comcast during the 2nd quarter valued at $105,000. Prentiss Smith & Co. Inc. lifted its position in shares of Comcast by 229.5% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 3,295 shares of the cable giant’s stock valued at $108,000 after buying an additional 2,295 shares during the last quarter. IMA Wealth Inc. purchased a new position in shares of Comcast during the 2nd quarter valued at $108,000. Acropolis Investment Management LLC purchased a new stake in Comcast during the 3rd quarter worth about $126,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Comcast during the 2nd quarter worth about $129,000. Hedge funds and other institutional investors own 80.15% 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, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.

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The Fly

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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