Comcast (NASDAQ:CMCSA) Reaches New 12-Month Low on Analyst Downgrade

Key Points

• Comcast's stock hit a new 52-week low at $30.30 following a price target downgrade by Deutsche Bank from $46.00 to $44.00, although the bank still maintains a buy rating.
• Several analysts have also reduced their target prices for Comcast, with an average target now at $39.94 and an overall rating of "Hold."
• Comcast declared a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 4.3%, emphasizing its commitment to returning value to shareholders.

Comcast Corporation (NASDAQ:CMCSA - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $46.00 to $44.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Comcast traded as low as $30.30 and last traded at $30.72, with a volume of 22232414 shares traded. The stock had previously closed at $31.09.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, August 4th. KeyCorp lowered their target price on shares of Comcast from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Friday. Weiss Ratings restated a "hold (c)" rating on shares of Comcast in a research note on Saturday, September 27th. Bank of America cut their price target on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, September 29th. Finally, Rothschild & Co Redburn cut their price target on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $39.94.

Institutional Investors Weigh In On Comcast

Several hedge funds have recently modified their holdings of the business. Capital A Wealth Management LLC lifted its position in Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant's stock valued at $25,000 after acquiring an additional 436 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in Comcast during the 1st quarter valued at approximately $26,000. Cranbrook Wealth Management LLC raised its holdings in shares of Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after buying an additional 350 shares during the last quarter. Global Trust Asset Management LLC raised its holdings in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after buying an additional 671 shares during the last quarter. Finally, Avalon Trust Co raised its holdings in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant's stock worth $27,000 after buying an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Trading Down 1.7%

The stock's fifty day simple moving average is $32.68 and its 200-day simple moving average is $34.09. The firm has a market cap of $112.90 billion, a PE ratio of 5.05, a PEG ratio of 1.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share. On average, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio (DPR) is currently 21.82%.

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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