Comcast Corporation (NASDAQ:CMCSA) Declares Quarterly Dividend of $0.33

Key Points

• Comcast declared a quarterly dividend of $0.33 per share, payable on October 28 to shareholders of record on October 7. The dividend implies an annualized yield of about 6.0%.
• The company has raised its dividend for 18 straight years, and its payout appears covered by earnings, with a payout ratio of 28.4%. Analysts expect Comcast to earn enough next year to keep covering the annual dividend.
• Comcast also reported better-than-expected quarterly EPS and revenue, though revenue still declined slightly year over year. Wall Street currently has a Hold consensus on the stock, with an average price target of $33.45.

Comcast Corporation (NASDAQ:CMCSA - Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Wednesday, October 7th will be paid a dividend of 0.33 per share by the cable giant on Wednesday, October 28th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, October 7th.

Comcast has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 18 years. Comcast has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Comcast to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 35.9%.

Comcast Stock Performance

Shares of CMCSA traded down $1.60 during mid-day trading on Thursday, hitting $21.92. 52,984,193 shares of the company traded hands, compared to its average volume of 34,590,254. The stock has a market cap of $78.30 billion, a price-to-earnings ratio of 4.31, a P/E/G ratio of 1.96 and a beta of 0.67. The stock has a 50-day moving average price of $23.93 and a two-hundred day moving average price of $27.35. Comcast has a 1 year low of $21.91 and a 1 year high of $36.01. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $29.94 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm's quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts anticipate that Comcast will post 3.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CMCSA. KeyCorp restated a "sector weight" rating on shares of Comcast in a research note on Thursday, April 23rd. Zacks Research raised Comcast from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 31st. Rosenblatt Securities raised shares of Comcast from a "neutral" rating to a "buy" rating and upped their price target for the company from $24.00 to $31.00 in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Comcast from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $34.00 to $32.00 in a research note on Tuesday, June 30th. Finally, Scotiabank cut their target price on shares of Comcast from $36.00 to $32.75 and set a "sector perform" rating for the company in a research report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $33.45.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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