Comcast Corporation (NASDAQ:CMCSA) Shares Will Pay Quarterly Dividend of $0.33

Comcast Corporation (NASDAQ:CMCSA) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Wednesday, January 6th will be paid a dividend of $0.33 per share by the cable giant on Wednesday, January 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Wednesday, January 6th.

Comcast has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Comcast has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Comcast to earn $3.61 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 36.6%.

Comcast Trading Up 3.4%

Shares of NASDAQ:CMCSA opened at $22.84 on Friday. The firm has a fifty day moving average of $23.87 and a two-hundred day moving average of $24.65. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. Comcast has a 12-month low of $20.48 and a 12-month high of $32.85. The firm has a market capitalization of $81.05 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business had revenue of $29.30 billion for the quarter, compared to the consensus estimate of $29.22 billion. During the same period in the prior year, the business posted $1.12 earnings per share. Comcast’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts expect that Comcast will post 3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of a number of research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $23.00 price objective on shares of Comcast in a research report on Thursday. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $23.00 target price on shares of Comcast in a research report on Tuesday, October 13th. Scotiabank dropped their target price on Comcast from $29.00 to $27.50 and set a “sector perform” rating on the stock in a research report on Friday, October 2nd. KeyCorp downgraded Comcast from a “sector weight” rating to an “underweight” rating and set a $18.00 price target for the company. in a research note on Thursday, September 24th. Finally, Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.69.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.