Comcast (NASDAQ:CMCSA) Upgraded by Goldman Sachs Group to “Buy”

Goldman Sachs Group upgraded shares of Comcast (NASDAQ:CMCSA) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, Benzinga reports. Goldman Sachs Group currently has $54.00 price target on the cable giant’s stock, up from their prior price target of $44.00.

A number of other brokerages have also recently commented on CMCSA. Macquarie began coverage on shares of Charter Communications in a research note on Wednesday, June 19th. They issued a hold rating and a $390.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of PVH to $145.00 and gave the stock an outperform rating in a research note on Friday, March 29th. Nomura lifted their price objective on shares of New Oriental Education & Tech Grp from $100.00 to $105.00 and gave the stock a buy rating in a research note on Friday, April 12th. TD Securities dropped their price objective on shares of West Fraser Timber from C$83.00 to C$80.00 and set a buy rating for the company in a research note on Monday, April 29th. Finally, Pivotal Research reissued a buy rating and issued a $54.00 price objective on shares of Comcast in a research note on Wednesday, June 26th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $44.92.

CMCSA opened at $44.64 on Wednesday. The stock has a market capitalization of $200.06 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.23 and a beta of 1.07. The company’s fifty day moving average is $42.45. Comcast has a fifty-two week low of $32.61 and a fifty-two week high of $45.01. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.38.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.08. The company had revenue of $26.86 billion during the quarter, compared to analysts’ expectations of $27.27 billion. Comcast had a net margin of 12.34% and a return on equity of 17.04%. Comcast’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. On average, analysts anticipate that Comcast will post 3.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.88%. Comcast’s dividend payout ratio is presently 32.94%.

In related news, EVP Stephen B. Burke sold 457,633 shares of Comcast stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $43.35, for a total transaction of $19,838,390.55. Following the completion of the transaction, the executive vice president now directly owns 1,078,189 shares of the company’s stock, valued at approximately $46,739,493.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Daniel C. Murdock sold 1,701 shares of Comcast stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total transaction of $70,523.46. Following the transaction, the senior vice president now directly owns 4,712 shares of the company’s stock, valued at $195,359.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 469,307 shares of company stock valued at $20,327,244. 1.35% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CMCSA. Norges Bank bought a new stake in Comcast during the 4th quarter valued at about $1,590,157,000. Nordea Investment Management AB lifted its holdings in Comcast by 67.5% during the 1st quarter. Nordea Investment Management AB now owns 17,274,883 shares of the cable giant’s stock valued at $690,651,000 after buying an additional 6,960,677 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Comcast by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock valued at $2,165,450,000 after buying an additional 5,992,911 shares in the last quarter. FMR LLC lifted its holdings in Comcast by 3.9% during the 4th quarter. FMR LLC now owns 128,168,481 shares of the cable giant’s stock valued at $4,364,136,000 after buying an additional 4,854,006 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Comcast by 16.2% during the 4th quarter. Legal & General Group Plc now owns 24,357,046 shares of the cable giant’s stock valued at $829,376,000 after buying an additional 3,393,163 shares in the last quarter. Institutional investors own 82.57% 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, 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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