Comcast (NASDAQ:CMCSA) Sets New 52-Week Low - Here's What Happened

Key Points

• Comcast shares hit a new 52-week low, falling to $21.12 and trading below both their 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans toward “Hold”: the consensus price target is $31, while recent firms lowered targets or issued underweight ratings.
• Comcast reported quarterly earnings and revenue above analyst expectations but experienced a 1.2% year-over-year revenue decline; it also announced a $0.33 quarterly dividend, representing a 6.3% yield.

Shares of Comcast Corporation (NASDAQ:CMCSA - Get Free Report) reached a new 52-week low during trading on Wednesday. The stock traded as low as $21.12 and last traded at $21.2530, with a volume of 1983464 shares traded. The stock had previously closed at $21.56.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Raymond James Financial reaffirmed a "market perform" rating on shares of Comcast in a report on Friday, October 2nd. BNP Paribas Exane reduced their price target on Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, July 14th. Moffett Nathanson decreased their price target on Comcast from $52.00 to $43.00 and set a "buy" rating on the stock in a research note on Tuesday, September 22nd. KeyCorp cut Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 price objective for the company. in a research report on Thursday, September 24th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $28.00 target price on shares of Comcast in a report on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $31.00.

Comcast Stock Performance

The stock has a 50-day simple moving average of $24.70 and a 200-day simple moving average of $25.25. The stock has a market cap of $74.75 billion, a PE ratio of 6.83, a P/E/G ratio of 1.55 and a beta of 0.68. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The firm's revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's dividend payout ratio is currently 42.72%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. State Street Corp raised its stake in Comcast by 3.4% during the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant's stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Comcast by 10.0% in the fourth quarter. Invesco Ltd. now owns 43,332,228 shares of the cable giant's stock valued at $1,295,200,000 after buying an additional 3,952,642 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock worth $1,173,232,000 after purchasing an additional 3,783,234 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Comcast by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant's stock valued at $845,919,000 after buying an additional 507,097 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Comcast by 3.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,217,107 shares of the cable giant's stock valued at $843,409,000 after purchasing an additional 919,555 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.

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