The Jefferies Group Reaffirms “Buy” Rating for Comcast Corp. (CMCSA)

The Jefferies Group Reaffirms “Buy” Rating for Comcast Corp. (CMCSA)

Comcast Corp. (NASDAQ:CMCSA)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a research note issued on Friday. They currently have a $77.00 price target on the cable giant’s stock. Jefferies Group’s target price suggests a potential upside of 17.72% from the company’s current price.

Several other equities research analysts also recently weighed in on CMCSA. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $70.00 price objective on shares of Comcast Corp. in a report on Monday, July 11th. RBC Capital Markets reissued an “outperform” rating and issued a $72.00 price objective (up from $70.00) on shares of Comcast Corp. in a report on Thursday, July 28th. Robert W. Baird reissued an “outperform” rating and issued a $67.00 price objective on shares of Comcast Corp. in a report on Tuesday, June 28th. Nomura reissued a “buy” rating on shares of Comcast Corp. in a report on Monday, June 27th. Finally, Pacific Crest increased their price objective on Comcast Corp. from $65.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Comcast Corp. has a consensus rating of “Buy” and a consensus price target of $72.00.

Comcast Corp. (NASDAQ:CMCSA) traded down 0.08% during trading on Friday, hitting $65.36. 5,618,656 shares of the stock traded hands. Comcast Corp. has a 12 month low of $52.34 and a 12 month high of $68.36. The stock has a market cap of $157.64 billion, a P/E ratio of 19.87 and a beta of 1.05. The firm’s 50-day moving average is $66.03 and its 200-day moving average is $64.14.

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Comcast Corp. (NASDAQ:CMCSA) last announced its quarterly earnings results on Wednesday, July 27th. The cable giant reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $18.74 billion for the quarter, compared to analyst estimates of $19.11 billion. Comcast Corp. had a net margin of 10.70% and a return on equity of 15.04%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, analysts forecast that Comcast Corp. will post $3.52 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, October 3rd. Comcast Corp.’s dividend payout ratio is currently 33.43%.

In related news, Chairman Brian L. Roberts sold 304,109 shares of Comcast Corp. stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.26, for a total transaction of $20,454,371.34. Following the completion of the sale, the chairman now owns 630,596 shares in the company, valued at approximately $42,413,886.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Neil Smit sold 29,475 shares of Comcast Corp. stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $67.86, for a total value of $2,000,173.50. Following the sale, the executive vice president now owns 81,410 shares of the company’s stock, valued at approximately $5,524,482.60. The disclosure for this sale can be found here. 1.27% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the company. Allen Investment Management LLC boosted its stake in Comcast Corp. by 9.4% in the first quarter. Allen Investment Management LLC now owns 1,164,888 shares of the cable giant’s stock worth $71,151,000 after buying an additional 100,472 shares in the last quarter. Gofen & Glossberg LLC IL boosted its stake in Comcast Corp. by 0.5% in the second quarter. Gofen & Glossberg LLC IL now owns 674,704 shares of the cable giant’s stock worth $43,984,000 after buying an additional 3,403 shares in the last quarter. Grisanti Capital Management LLC boosted its stake in Comcast Corp. by 87.3% in the second quarter. Grisanti Capital Management LLC now owns 205,065 shares of the cable giant’s stock worth $13,368,000 after buying an additional 95,590 shares in the last quarter. Intermede Investment Partners Ltd boosted its stake in Comcast Corp. by 2.1% in the second quarter. Intermede Investment Partners Ltd now owns 854,654 shares of the cable giant’s stock worth $55,715,000 after buying an additional 17,312 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its stake in Comcast Corp. by 51.0% in the first quarter. First Republic Investment Management Inc. now owns 661,284 shares of the cable giant’s stock worth $40,390,000 after buying an additional 223,379 shares in the last quarter. Hedge funds and other institutional investors own 82.22% of the company’s stock.

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