Comcast (NASDAQ:CMCSA – Get Rating) had its target price cut by analysts at Cowen from $60.00 to $51.00 in a research note issued to investors on Friday, Stock Target Advisor reports. Cowen’s target price would suggest a potential upside of 36.11% from the stock’s current price.
Several other equities analysts have also issued reports on the company. Vertical Research lowered Comcast to a “positive” rating in a research note on Tuesday, July 5th. Daiwa Capital Markets started coverage on Comcast in a research note on Friday, July 1st. They set an “outperform” rating and a $43.00 price target on the stock. JPMorgan Chase & Co. lowered Comcast from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $45.00 in a research note on Friday. Oppenheimer lowered their price target on Comcast from $75.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 14th. Finally, Benchmark decreased their price objective on Comcast from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $53.04.
Comcast Stock Down 4.9 %
CMCSA traded down $1.94 during trading on Friday, reaching $37.47. 774,925 shares of the stock traded hands, compared to its average volume of 23,400,416. The stock has a market cap of $169.86 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.86 and a beta of 0.97. Comcast has a fifty-two week low of $37.56 and a fifty-two week high of $61.80. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day simple moving average is $41.11 and its two-hundred day simple moving average is $44.68.
Comcast (NASDAQ:CMCSA – Get Rating) last posted its earnings results on Thursday, July 28th. The cable giant reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.09. The company had revenue of $30.02 billion for the quarter, compared to analyst estimates of $29.72 billion. Comcast had a return on equity of 15.92% and a net margin of 11.96%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. As a group, equities research analysts expect that Comcast will post 3.61 EPS for the current year.
Insider Activity at Comcast
In related news, CAO Daniel C. Murdock sold 8,929 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $44.50, for a total value of $397,340.50. Following the completion of the sale, the chief accounting officer now directly owns 1,817 shares in the company, valued at approximately $80,856.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.11% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Comcast by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 399,364,773 shares of the cable giant’s stock worth $18,698,259,000 after acquiring an additional 2,751,429 shares in the last quarter. State Street Corp boosted its position in shares of Comcast by 2.4% during the 4th quarter. State Street Corp now owns 178,004,947 shares of the cable giant’s stock worth $8,958,989,000 after acquiring an additional 4,198,673 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Comcast by 8.8% during the 4th quarter. Capital Research Global Investors now owns 156,125,921 shares of the cable giant’s stock worth $7,857,828,000 after acquiring an additional 12,642,202 shares in the last quarter. Dodge & Cox boosted its position in shares of Comcast by 1.1% during the 4th quarter. Dodge & Cox now owns 84,666,165 shares of the cable giant’s stock worth $4,261,248,000 after acquiring an additional 958,091 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Comcast by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 79,539,982 shares of the cable giant’s stock worth $3,992,896,000 after acquiring an additional 2,575,372 shares in the last quarter. 83.33% of the stock is owned by institutional investors.
About Comcast
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.