Pivotal Research Boosts Comcast Corporation (CMCSA) Price Target to $50.00

Comcast Corporation (NASDAQ:CMCSA) had its price target lifted by Pivotal Research from $48.00 to $50.00 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the cable giant’s stock.

A number of other equities analysts have also commented on CMCSA. Bank of America Corporation lifted their price target on shares of Comcast Corporation from $45.00 to $50.00 and gave the stock a buy rating in a report on Friday, June 30th. Morgan Stanley reiterated an overweight rating and set a $44.00 price target (up previously from $43.00) on shares of Comcast Corporation in a report on Thursday, July 6th. Jefferies Group LLC reiterated a buy rating and set a $47.00 price target on shares of Comcast Corporation in a report on Friday, July 7th. Royal Bank Of Canada reiterated a buy rating and set a $45.00 price target on shares of Comcast Corporation in a report on Sunday, July 9th. Finally, TD Securities started coverage on shares of Comcast Corporation in a report on Thursday, July 13th. They set a buy rating and a $51.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Comcast Corporation presently has an average rating of Buy and a consensus target price of $45.84.

Shares of Comcast Corporation (CMCSA) traded down 0.84% during mid-day trading on Friday, hitting $36.48. 17,018,086 shares of the company’s stock traded hands. The firm has a 50-day moving average of $37.41 and a 200 day moving average of $39.15. Comcast Corporation has a 52 week low of $30.02 and a 52 week high of $42.18. The company has a market cap of $171.94 billion, a PE ratio of 18.38 and a beta of 0.98.

Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.05 billion. Comcast Corporation had a net margin of 11.99% and a return on equity of 17.17%. Comcast Corporation’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. Equities research analysts predict that Comcast Corporation will post $2.06 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 3rd will be paid a $0.157 dividend. This represents a $0.63 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, January 2nd. Comcast Corporation’s dividend payout ratio (DPR) is currently 30.36%.

In other Comcast Corporation news, Director Kenneth J. Bacon sold 2,232 shares of Comcast Corporation stock in a transaction on Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the sale, the director now directly owns 24,580 shares of the company’s stock, valued at $916,096.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Arthur R. Block sold 4,091 shares of Comcast Corporation stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the sale, the executive vice president now directly owns 68,478 shares of the company’s stock, valued at $2,626,816.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,982 shares of company stock valued at $385,050. Insiders own 1.28% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Connecticut Wealth Management LLC increased its position in shares of Comcast Corporation by 0.4% during the second quarter. Connecticut Wealth Management LLC now owns 6,602 shares of the cable giant’s stock worth $256,000 after acquiring an additional 24 shares in the last quarter. Financial Consulate Inc. increased its position in shares of Comcast Corporation by 0.5% during the second quarter. Financial Consulate Inc. now owns 6,400 shares of the cable giant’s stock worth $249,000 after acquiring an additional 30 shares in the last quarter. Clarius Group LLC increased its position in shares of Comcast Corporation by 0.4% during the second quarter. Clarius Group LLC now owns 8,041 shares of the cable giant’s stock worth $313,000 after acquiring an additional 32 shares in the last quarter. GM Advisory Group Inc. increased its position in shares of Comcast Corporation by 0.9% during the second quarter. GM Advisory Group Inc. now owns 5,554 shares of the cable giant’s stock worth $217,000 after acquiring an additional 48 shares in the last quarter. Finally, Peoples Bank OH increased its position in shares of Comcast Corporation by 0.9% during the second quarter. Peoples Bank OH now owns 6,340 shares of the cable giant’s stock worth $247,000 after acquiring an additional 59 shares in the last quarter. 81.89% of the stock is owned by institutional investors.

Comcast Corporation Company Profile

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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