Comcast (NASDAQ:CMCSA) Stock Price Down 6.6% - Time to Sell?

Key Points

• Comcast shares fell 6.6% to about $24.59 in heavy trading, below both the 50-day and 200-day moving averages.
• Analysts maintain a consensus “Hold” rating, with an average price target of $32.96; ratings include 11 Buys, 13 Holds, and 4 Sells.
• Despite a 1.2% year-over-year revenue decline, Comcast beat quarterly earnings and revenue estimates and offers a 5.3% dividend yield with a 42.72% payout ratio.

Comcast Corporation (NASDAQ:CMCSA - Get Free Report)'s share price fell 6.6% on Wednesday . The stock traded as low as $24.66 and last traded at $24.5850. 18,843,127 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 32,684,826 shares. The stock had previously closed at $26.33.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several analyst reports. Royal Bank Of Canada set a $26.00 price target on shares of Comcast and gave the company a "sector perform" rating in a research report on Friday, July 24th. Freedom Capital raised Comcast to a "hold" rating in a research note on Friday, June 12th. UBS Group restated a "neutral" rating on shares of Comcast in a research report on Tuesday, June 23rd. Barclays set a $26.00 price target on Comcast and gave the company an "equal weight" rating in a research note on Friday, July 24th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $28.00 price objective on shares of Comcast in a research report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Comcast currently has a consensus rating of "Hold" and an average target price of $32.96.

Comcast Price Performance

The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $87.81 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68. The stock's 50 day moving average is $24.94 and its two-hundred day moving average is $26.38.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate 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 period last year, the business earned $1.25 EPS. Comcast's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Comcast Corporation will post 3.52 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. Comcast's dividend payout ratio is 42.72%.

Hedge Funds Weigh In On Comcast

Several institutional investors have recently added to or reduced their stakes in the stock. Allied Private Wealth LLC acquired a new stake in shares of Comcast during the second quarter worth $26,000. Imprint Wealth LLC purchased a new position in Comcast during the 3rd quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Comcast during the 4th quarter worth $27,000. Whipplewood Advisors LLC lifted its stake in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after acquiring an additional 401 shares during the period. Finally, Main Street Group LTD purchased a new stake in shares of Comcast in the first quarter valued at about $27,000. Institutional investors and hedge funds own 84.32% of the company's stock.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.