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

Key Points

• Comcast Corporation has announced a quarterly dividend of $0.33 per share, with an annual yield of 4.1%, payable on October 22nd to investors of record as of October 1st.
• The company's dividend payout ratio is 28.4%, indicating that the dividend is well-covered by earnings, with expected earnings of $4.68 per share next year.
• Comcast's stock has recently traded down 2.1% to $32.52, and it holds a market cap of $121.42 billion with an average rating of "Hold" among analysts.

Comcast Corporation (NASDAQ:CMCSA - Get Free Report) announced a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Investors of record on Wednesday, October 1st will be given a dividend of 0.33 per share by the cable giant on Wednesday, October 22nd. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, October 1st.

Comcast has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Comcast to earn $4.68 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 28.2%.

Comcast Trading Down 2.1%

NASDAQ CMCSA traded down $0.71 on Friday, reaching $32.52. The company had a trading volume of 22,384,577 shares, compared to its average volume of 24,528,496. The stock's 50 day moving average is $34.84 and its 200-day moving average is $35.14. The stock has a market cap of $121.42 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 1.58 and a beta of 0.95. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast has a 52 week low of $31.44 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The firm's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 earnings per share. Equities analysts predict that Comcast will post 4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CMCSA shares. Benchmark restated a "buy" rating on shares of Comcast in a report on Friday, July 18th. Barclays lowered their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday. Rothschild & Co Redburn lowered their price target on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Finally, BNP Paribas Exane reduced their price objective on Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $40.77.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.

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