Comcast (NASDAQ:CMCSA) Reaches New 52-Week Low on Analyst Downgrade

Key Points

• Comcast's share price fell to a new 52-week low at $30.99 following an analyst downgrade by Loop Capital, which reduced its price target from $44.00 to $43.00 while maintaining a buy rating.
• Despite the downturn, Comcast recently declared a quarterly dividend of $0.33 per share, yielding 4.2%, with a payout ratio of 21.82%.
• Institutional ownership of Comcast remains high at 84.32%, indicating significant confidence among large investors despite the decline in stock price.

Comcast Corporation (NASDAQ:CMCSA - Get Free Report)'s share price hit a new 52-week low on Wednesday after Loop Capital lowered their price target on the stock from $44.00 to $43.00. Loop Capital currently has a buy rating on the stock. Comcast traded as low as $30.99 and last traded at $31.24, with a volume of 2008780 shares changing hands. The stock had previously closed at $31.42.

Other analysts have also issued reports about the company. Arete Research raised Comcast to a "hold" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada began coverage on Comcast in a report on Monday, September 8th. They issued a "sector perform" rating and a $38.00 price objective for the company. Sanford C. Bernstein lowered their price objective on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday, September 10th. Scotiabank boosted their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Rothschild & Co Redburn lowered their price objective on 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, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $40.07.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. Capital A Wealth Management LLC boosted its holdings in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant's stock valued at $25,000 after purchasing an additional 436 shares during the period. Inlight Wealth Management LLC acquired a new stake in Comcast in the first quarter worth $26,000. Global Trust Asset Management LLC grew its holdings in 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 purchasing an additional 671 shares during the period. Cranbrook Wealth Management LLC grew its holdings in shares of Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after buying an additional 350 shares during the last quarter. Finally, Avalon Trust Co lifted its position in shares of Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant's stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Trading Down 1.1%

The firm has a market cap of $114.76 billion, a P/E ratio of 5.14, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm's 50-day simple moving average is $32.98 and its 200 day simple moving average is $34.26.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The company 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%. Comcast's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.21 earnings per share. As a group, analysts expect 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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, October 1st. Comcast's dividend payout ratio 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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