TD Cowen Raises Comcast (NASDAQ:CMCSA) Price Target to $50.00

Posted by Defense World Staff on Aug 1st, 2023

Comcast (NASDAQ:CMCSA – Free Report) had its target price lifted by TD Cowen from $46.00 to $50.00 in a research report report published on Friday morning, Benzinga reports. TD Cowen currently has an outperform rating on the cable giant’s stock.

Several other research firms also recently weighed in on CMCSA. Wells Fargo & Company boosted their price target on shares of Comcast from $46.00 to $50.00 and gave the stock an equal weight rating in a research note on Friday. KeyCorp increased their target price on Comcast from $46.00 to $51.00 and gave the company an overweight rating in a report on Friday. Pivotal Research boosted their price objective on Comcast from $46.00 to $48.00 in a research report on Friday, April 28th. Loop Capital lifted their target price on shares of Comcast from $50.00 to $53.00 in a research note on Friday. Finally, Bank of America increased their price target on shares of Comcast from $49.00 to $55.00 and gave the company a buy rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $47.64.

Comcast Price Performance

Comcast stock opened at $45.26 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.76 and a quick ratio of 0.76. Comcast has a one year low of $28.39 and a one year high of $46.44. The firm has a market capitalization of $188.68 billion, a P/E ratio of 28.65, a PEG ratio of 1.28 and a beta of 1.00. The business has a fifty day moving average price of $41.35 and a 200-day moving average price of $39.44.

Comcast (NASDAQ:CMCSA – Get Free Report) last posted its earnings results on Thursday, July 27th. The cable giant reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.15. The business had revenue of $30.51 billion for the quarter, compared to analysts’ expectations of $30.11 billion. Comcast had a net margin of 5.40% and a return on equity of 19.79%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. As a group, equities research analysts forecast that Comcast will post 3.7 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Tuesday, October 3rd. Comcast’s payout ratio is 73.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Corrado Advisors LLC purchased a new position in shares of Comcast during the 4th quarter worth about $25,000. Kalos Management Inc. purchased a new position in shares of Comcast during the first quarter valued at approximately $28,000. Destiny Wealth Partners LLC grew its stake in shares of Comcast by 55.9% during the fourth quarter. Destiny Wealth Partners LLC now owns 828 shares of the cable giant’s stock valued at $29,000 after buying an additional 297 shares during the last quarter. NewSquare Capital LLC lifted its stake in shares of Comcast by 134.3% during the 1st quarter. NewSquare Capital LLC now owns 752 shares of the cable giant’s stock worth $29,000 after acquiring an additional 431 shares during the last quarter. Finally, GW&K Investment Management LLC purchased a new position in Comcast during the 1st quarter valued at $29,000. Institutional investors own 83.02% of the company’s stock.

Comcast Company Profile

(Get Free Report)

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, advertising sales, and Sky channels.

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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