Comcast Co. (NASDAQ:CMCSA) announced a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Shareholders of record on Wednesday, October 7th will be given a dividend of 0.23 per share by the cable giant on Wednesday, October 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Tuesday, October 6th.
Comcast has decreased its dividend by an average of 6.7% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Comcast has a dividend payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Comcast to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 31.0%.
Shares of NASDAQ:CMCSA opened at $42.80 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.87 and a current ratio of 0.97. Comcast has a 52 week low of $31.70 and a 52 week high of $47.74. The firm has a market cap of $199.31 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The firm’s fifty day moving average is $40.51 and its 200-day moving average is $40.20.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 30th. The cable giant reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. Comcast had a return on equity of 16.66% and a net margin of 10.91%. The business had revenue of $23.72 billion during the quarter, compared to analyst estimates of $23.56 billion. During the same period last year, the company earned $0.78 EPS. Comcast’s revenue for the quarter was down 11.7% compared to the same quarter last year. Sell-side analysts forecast that Comcast will post 2.37 EPS for the current year.
A number of equities analysts recently commented on CMCSA shares. Citigroup lifted their price objective on Comcast from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Wells Fargo & Co increased their price objective on shares of Comcast from $42.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. UBS Group lowered their target price on shares of Comcast from $49.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Morgan Stanley lifted their price objective on Comcast from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Rosenblatt Securities lifted their target price on Comcast from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $48.38.
In other Comcast news, CAO Daniel C. Murdock sold 4,536 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $38.60, for a total transaction of $175,089.60. Following the completion of the sale, the chief accounting officer now owns 10,085 shares of the company’s stock, valued at approximately $389,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.35% of the stock is currently owned by company insiders.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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