Comcast (CMCSA) Shares Gap Down to $32.51

Shares of Comcast (NASDAQ:CMCSA) gapped down before the market opened on Wednesday . The stock had previously closed at $33.17, but opened at $32.51. Comcast shares last traded at $31.88, with a volume of 27840707 shares.

A number of analysts recently issued reports on CMCSA shares. Wells Fargo & Co raised their price objective on Comcast from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Bank of America raised their price objective on Comcast from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. TD Securities raised their price objective on Comcast from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. SunTrust Banks raised their target price on Comcast to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Guggenheim raised their target price on Comcast from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.09.

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.90. The company has a market cap of $148.07 billion, a PE ratio of 15.48, a PEG ratio of 1.17 and a beta of 1.19.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Wednesday, April 25th. The cable giant reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $22.79 billion during the quarter, compared to analysts’ expectations of $22.74 billion. Comcast had a return on equity of 16.14% and a net margin of 26.79%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. analysts expect that Comcast will post 2.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Tuesday, July 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, July 2nd. Comcast’s payout ratio is presently 36.89%.

In other news, EVP Arthur R. Block sold 2,471 shares of the firm’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $35.60, for a total transaction of $87,967.60. Following the sale, the executive vice president now owns 62,988 shares of the company’s stock, valued at approximately $2,242,372.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian L. Roberts sold 358,353 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $36.89, for a total value of $13,219,642.17. Following the sale, the chief executive officer now directly owns 1,717,788 shares in the company, valued at approximately $63,369,199.32. The disclosure for this sale can be found here. Insiders sold a total of 1,210,111 shares of company stock valued at $44,299,007 in the last quarter. Company insiders own 1.28% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Twin Capital Management Inc. increased its holdings in shares of Comcast by 9.5% in the third quarter. Twin Capital Management Inc. now owns 373,270 shares of the cable giant’s stock valued at $14,363,000 after purchasing an additional 32,500 shares during the period. Farr Miller & Washington LLC DC increased its holdings in shares of Comcast by 14.1% in the third quarter. Farr Miller & Washington LLC DC now owns 12,064 shares of the cable giant’s stock valued at $464,000 after purchasing an additional 1,492 shares during the period. Amalgamated Bank increased its holdings in shares of Comcast by 2.1% in the third quarter. Amalgamated Bank now owns 566,205 shares of the cable giant’s stock valued at $21,788,000 after purchasing an additional 11,677 shares during the period. Zeke Capital Advisors LLC increased its holdings in shares of Comcast by 65.4% in the third quarter. Zeke Capital Advisors LLC now owns 68,488 shares of the cable giant’s stock valued at $2,635,000 after purchasing an additional 27,068 shares during the period. Finally, Investec Asset Management PTY Ltd increased its holdings in shares of Comcast by 3.3% in the third quarter. Investec Asset Management PTY Ltd now owns 82,736 shares of the cable giant’s stock valued at $3,132,000 after purchasing an additional 2,652 shares during the period. 82.08% of the stock is currently owned by institutional investors.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.

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