Citigroup Raises Comcast (NASDAQ:CMCSA) Price Target to $52.00

Comcast (NASDAQ:CMCSA) had its target price raised by Citigroup from $49.00 to $52.00 in a research note issued to investors on Friday morning, The Fly reports. They currently have a buy rating on the cable giant’s stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Comcast from $47.00 to $53.00 in a report on Monday, August 3rd. Sanford C. Bernstein raised Comcast from a market perform rating to an outperform rating and increased their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, July 1st. Benchmark lifted their price objective on Comcast from $54.00 to $60.00 and gave the stock a buy rating in a report on Tuesday, September 22nd. They noted that the move was a valuation call. Credit Suisse Group upped their target price on shares of Comcast from $50.00 to $60.00 and gave the company an outperform rating in a research note on Wednesday, September 23rd. Finally, BidaskClub lowered shares of Comcast from a strong-buy rating to a buy rating in a research note on Saturday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $50.18.

Shares of NASDAQ CMCSA opened at $44.33 on Friday. The company has a 50 day simple moving average of $45.27 and a two-hundred day simple moving average of $41.18. Comcast has a fifty-two week low of $31.70 and a fifty-two week high of $47.74. The company has a market capitalization of $202.50 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.89 and a beta of 0.93. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.97 and a current ratio of 0.97.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 30th. The cable giant reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. The company had revenue of $23.72 billion for the quarter, compared to the consensus estimate of $23.56 billion. Comcast had a return on equity of 16.66% and a net margin of 10.91%. During the same quarter in the prior year, the business posted $0.78 EPS. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, analysts forecast that Comcast will post 2.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.08%. Comcast’s payout ratio is currently 29.39%.

In other Comcast news, CEO Jeff Shell sold 99,484 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $42.91, for a total value of $4,268,858.44. Insiders own 1.14% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMCSA. Capital Research Global Investors grew its stake in shares of Comcast by 287.6% during the first quarter. Capital Research Global Investors now owns 46,638,161 shares of the cable giant’s stock valued at $1,603,422,000 after buying an additional 34,605,876 shares during the last quarter. Capital International Investors increased its holdings in Comcast by 19.2% during the first quarter. Capital International Investors now owns 159,780,593 shares of the cable giant’s stock valued at $5,493,274,000 after buying an additional 25,775,072 shares during the period. Nordea Investment Management AB raised its stake in Comcast by 89.5% in the second quarter. Nordea Investment Management AB now owns 41,467,038 shares of the cable giant’s stock worth $1,581,552,000 after buying an additional 19,581,216 shares in the last quarter. Viking Global Investors LP lifted its holdings in Comcast by 59.3% during the second quarter. Viking Global Investors LP now owns 28,523,676 shares of the cable giant’s stock worth $1,111,853,000 after buying an additional 10,620,893 shares during the period. Finally, Trian Fund Management L.P. bought a new stake in Comcast during the 2nd quarter valued at $279,058,000. Institutional investors own 82.80% of the company’s stock.

About Comcast

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, wireless, and security and automation services to residential and business customers under the Xfinity brand; and advertising services.

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