Comcast (NASDAQ:CMCSA) Downgraded by Royal Bank of Canada

Royal Bank of Canada lowered shares of Comcast (NASDAQ:CMCSA) from an outperform rating to a sector perform rating in a research report report published on Friday, March 29th, Benzinga reports. They currently have $42.00 target price on the cable giant’s stock, down from their previous target price of $45.00.

CMCSA has been the subject of a number of other reports. BidaskClub upgraded Comcast from a sell rating to a hold rating in a research note on Monday, February 25th. Credit Suisse Group reaffirmed a buy rating and set a $44.00 target price on shares of Comcast in a research report on Tuesday, January 22nd. Wolfe Research began coverage on Comcast in a research report on Friday, December 7th. They set an outperform rating on the stock. ValuEngine raised Comcast from a sell rating to a hold rating in a research report on Friday, February 8th. Finally, TD Securities increased their price objective on Comcast from $47.00 to $48.00 and gave the company a buy rating in a report on Thursday, January 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $44.45.

Shares of NASDAQ CMCSA traded down $0.14 during trading hours on Friday, hitting $42.43. 13,959,321 shares of the company traded hands, compared to its average volume of 14,530,851. Comcast has a 12 month low of $30.43 and a 12 month high of $42.83. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $197.07 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.19 and a beta of 1.10.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Wednesday, January 23rd. The cable giant reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Comcast had a return on equity of 16.49% and a net margin of 12.41%. The business had revenue of $27.85 billion during the quarter, compared to analysts’ expectations of $27.56 billion. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. As a group, equities analysts predict that Comcast will post 2.84 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 3rd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Tuesday, April 2nd. This is an increase from Comcast’s previous quarterly dividend of $0.19. Comcast’s dividend payout ratio (DPR) is 32.94%.

In other Comcast news, EVP David N. Watson sold 201,007 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $38.31, for a total transaction of $7,700,578.17. Following the completion of the sale, the executive vice president now owns 817,992 shares of the company’s stock, valued at $31,337,273.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Daniel C. Murdock sold 845 shares of the firm’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $35.55, for a total value of $30,039.75. Following the sale, the senior vice president now directly owns 1,005 shares of the company’s stock, valued at approximately $35,727.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,290,226 shares of company stock valued at $49,311,328. Insiders own 1.31% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CMCSA. CI Investments Inc. boosted its holdings in Comcast by 4.5% in the third quarter. CI Investments Inc. now owns 4,547,699 shares of the cable giant’s stock valued at $161,034,000 after purchasing an additional 196,200 shares during the period. FDx Advisors Inc. lifted its holdings in Comcast by 3.0% during the 3rd quarter. FDx Advisors Inc. now owns 150,676 shares of the cable giant’s stock worth $5,335,000 after buying an additional 4,443 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in Comcast by 4.0% during the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 122,204 shares of the cable giant’s stock worth $4,327,000 after buying an additional 4,670 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Comcast by 0.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 173,376 shares of the cable giant’s stock worth $6,139,000 after buying an additional 1,390 shares during the last quarter. Finally, Putnam FL Investment Management Co. lifted its holdings in Comcast by 13.8% during the 3rd quarter. Putnam FL Investment Management Co. now owns 535,661 shares of the cable giant’s stock worth $18,968,000 after buying an additional 65,050 shares during the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.

Comcast Company Profile

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

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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