Comcast (NASDAQ:CMCSA) Stock Rating Reaffirmed by Rosenblatt Securities

Comcast (NASDAQ:CMCSA)‘s stock had its “neutral” rating reiterated by analysts at Rosenblatt Securities in a report released on Wednesday, Benzinga reports. They currently have a $45.00 price target on the cable giant’s stock. Rosenblatt Securities’ target price indicates a potential upside of 17.68% from the stock’s current price.

A number of other research firms have also weighed in on CMCSA. Macquarie lowered their price target on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. The Goldman Sachs Group began coverage on Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Wells Fargo & Company dropped their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, Seaport Res Ptn downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average target price of $47.28.

Comcast Price Performance

NASDAQ:CMCSA opened at $38.24 on Wednesday. The stock has a 50 day moving average of $38.53 and a two-hundred day moving average of $40.69. Comcast has a 12 month low of $36.43 and a 12 month high of $47.46. The firm has a market cap of $150.04 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.20% and a net margin of 12.46%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 earnings per share. On average, analysts expect that Comcast will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Comcast

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Comcast

A number of large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Comcast in the 4th quarter valued at about $2,542,988,000. Capital World Investors lifted its stake in Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after acquiring an additional 15,625,543 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in Comcast by 25,881.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after acquiring an additional 10,809,231 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Comcast by 80.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,542,253 shares of the cable giant’s stock valued at $457,007,000 after purchasing an additional 4,714,586 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

About Comcast

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.