Comcast Corporation Plans Quarterly Dividend of $0.33 (NASDAQ:CMCSA)

Comcast Corporation (NASDAQ:CMCSA) announced a quarterly dividend on Wednesday, May 13th. Investors of record on Wednesday, July 1st will be given a dividend of 0.33 per share by the cable giant on Wednesday, July 22nd. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st.

Comcast has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 18 consecutive years. Comcast has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Comcast to earn $3.82 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 34.6%.

Comcast Stock Up 0.2%

Shares of NASDAQ:CMCSA opened at $24.94 on Thursday. The business has a 50 day simple moving average of $28.62 and a two-hundred day simple moving average of $28.80. Comcast has a 1 year low of $24.53 and a 1 year high of $36.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $89.09 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 2.00 and a beta of 0.71.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same quarter in the prior year, the company posted $1.09 EPS. Comcast’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Comcast will post 3.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on CMCSA. Sanford C. Bernstein reduced their price target on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. New Street Research lowered their price objective on shares of Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley raised their target price on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Scotiabank lifted their price target on shares of Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Finally, UBS Group decreased their price target on shares of Comcast from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.79.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.