Comcast (NASDAQ:CMCSA) Shares Down 5.6% - Here's Why

Key Points

• Comcast's stock price fell by 5.6%, trading as low as $33.20 and closing at $33.40, with a significant decrease in trading volume.
• Multiple analysts have lowered their price targets on Comcast shares, with Barclays reducing its target from $37 to $35 and JPMorgan from $39 to $37.
• Comcast recently declared a quarterly dividend of $0.33, representing an annualized yield of 3.92%.
• The company reported a quarterly EPS of $1.09, exceeding the consensus estimate, but revenue was down 0.6% year-over-year.

Comcast Corporation (NASDAQ:CMCSA - Get Free Report)'s stock price traded down 5.6% during trading on Friday . The company traded as low as $33.20 and last traded at $33.40. 10,303,494 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 24,136,248 shares. The stock had previously closed at $35.37.

Analysts Set New Price Targets

CMCSA has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. dropped their price target on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Rothschild & Co Redburn dropped their price target on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Benchmark reissued a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Finally, Arete Research raised shares of Comcast to a "hold" rating in a research report on Tuesday, July 8th. 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 issued a strong buy rating to the stock. According to MarketBeat, Comcast has an average rating of "Hold" and a consensus price target of $41.10.

Comcast Stock Down 4.9%

The firm has a market cap of $125.58 billion, a PE ratio of 8.26, a PEG ratio of 1.74 and a beta of 0.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The company's 50-day simple moving average is $35.04 and its two-hundred day simple moving average is $35.27.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same period in the prior year, the business earned $1.04 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd were paid a $0.33 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.92%. Comcast's payout ratio is 32.43%.

Institutional Trading of Comcast

A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. Advisor OS LLC raised its position in shares of Comcast by 33.2% during the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after buying an additional 8,841 shares during the last quarter. OMNI 360 Wealth Inc. bought a new stake in shares of Comcast in the first quarter valued at about $335,000. Aviva PLC raised its holdings in Comcast by 7.2% in the fourth quarter. Aviva PLC now owns 2,327,702 shares of the cable giant's stock worth $87,359,000 after purchasing an additional 156,986 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Comcast by 41.7% during the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after acquiring an additional 1,261,278 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Comcast by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock valued at $3,212,244,000 after acquiring an additional 1,006,272 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.