Comcast (NASDAQ:CMCSA) had its price objective hoisted by investment analysts at Rosenblatt Securities from $45.00 to $51.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the cable giant’s stock. Rosenblatt Securities’ target price indicates a potential upside of 19.16% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. SunTrust Banks cut their price target on shares of Comcast from $53.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 3rd. Benchmark reiterated a “buy” rating and issued a $54.00 target price on shares of Comcast in a report on Friday, May 22nd. Sanford C. Bernstein upgraded Comcast from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, July 1st. ValuEngine downgraded Comcast from a “hold” rating to a “sell” rating in a report on Monday, June 1st. Finally, Wells Fargo & Co increased their target price 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $48.38.
Shares of NASDAQ:CMCSA opened at $42.80 on Friday. The company has a market cap of $195.34 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.92 and a beta of 0.97. The business has a fifty day simple moving average of $40.51 and a 200-day simple moving average of $40.20. Comcast has a 52 week low of $31.70 and a 52 week high of $47.74. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 1.25.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 30th. The cable giant reported $0.69 EPS for the quarter, beating the consensus estimate of $0.55 by $0.14. The company had revenue of $23.72 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Comcast had a return on equity of 16.66% and a net margin of 10.91%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Sell-side analysts expect that Comcast will post 2.39 earnings per share for the current fiscal year.
In other Comcast news, CAO Daniel C. Murdock sold 4,536 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $38.60, for a total value of $175,089.60. Following the transaction, the chief accounting officer now directly owns 10,085 shares of the company’s stock, valued at approximately $389,281. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.35% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. First Merchants Corp grew its stake in Comcast by 9.6% in the second quarter. First Merchants Corp now owns 168,127 shares of the cable giant’s stock worth $6,551,000 after purchasing an additional 14,685 shares in the last quarter. Trust Co. of Oklahoma increased its holdings in shares of Comcast by 14.2% in the 1st quarter. Trust Co. of Oklahoma now owns 21,382 shares of the cable giant’s stock valued at $735,000 after acquiring an additional 2,652 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in shares of Comcast by 170.8% during the 1st quarter. Peapack Gladstone Financial Corp now owns 125,785 shares of the cable giant’s stock valued at $4,324,000 after acquiring an additional 79,337 shares in the last quarter. Kistler Tiffany Companies LLC lifted its stake in Comcast by 27.6% during the second quarter. Kistler Tiffany Companies LLC now owns 41,458 shares of the cable giant’s stock worth $1,616,000 after purchasing an additional 8,974 shares during the last quarter. Finally, Motley Fool Wealth Management LLC boosted its holdings in Comcast by 36.0% in the first quarter. Motley Fool Wealth Management LLC now owns 425,839 shares of the cable giant’s stock worth $14,640,000 after purchasing an additional 112,808 shares during the period. 83.16% of the stock is owned by institutional investors.
Comcast Company Profile
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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