Comcast (NASDAQ:CMCSA) Shares Up 1.7% on Better-Than-Expected Earnings

Comcast Co. (NASDAQ:CMCSA) shares were up 1.7% on Friday following a better than expected earnings announcement. The stock traded as high as $38.54 and last traded at $38.50. Approximately 9,578,640 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 20,703,502 shares. The stock had previously closed at $37.87.

The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The company had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. Comcast’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share.

Analyst Ratings Changes

Several brokerages have recently weighed in on CMCSA. Scotiabank reduced their price target on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday. Redburn Atlantic lowered Comcast from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Friday. Oppenheimer restated an “outperform” rating and issued a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. Finally, StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.45.

Insider Buying and Selling at Comcast

In other Comcast news, President Michael J. Cavanagh sold 114,749 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Comcast

Large investors have recently made changes to their positions in the business. Greenwich Wealth Management LLC increased its stake in shares of Comcast by 2.6% in the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after acquiring an additional 219 shares during the period. Legend Financial Advisors Inc. boosted its holdings in Comcast by 17.5% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after purchasing an additional 220 shares during the last quarter. Beaumont Asset Management L.L.C. grew its position in Comcast by 1.6% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock worth $620,000 after purchasing an additional 226 shares during the period. Keystone Financial Services raised its stake in shares of Comcast by 1.1% during the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after buying an additional 229 shares during the last quarter. Finally, Ironwood Financial llc raised its stake in shares of Comcast by 1.6% during the 3rd quarter. Ironwood Financial llc now owns 15,449 shares of the cable giant’s stock valued at $685,000 after buying an additional 238 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Up 1.7 %

The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The firm has a market cap of $153.00 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.98 and a beta of 0.98. The company has a fifty day moving average price of $41.64 and a 200-day moving average price of $42.61.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.