Comcast (NASDAQ:CMCSA – Get Free Report) had its price objective lowered by The Goldman Sachs Group from $29.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the cable giant’s stock. The Goldman Sachs Group’s target price points to a potential upside of 9.57% from the stock’s current price.
A number of other research analysts have also recently issued reports on the company. Citigroup decreased their target price on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday. Moffett Nathanson cut their price objective on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Finally, UBS Group restated a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target of $34.40.
Read Our Latest Research Report on CMCSA
Comcast Stock Down 3.3%
Comcast (NASDAQ:CMCSA – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Comcast will post 3.51 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CMCSA. Brighton Jones LLC boosted its holdings in Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares during the last quarter. Voya Financial Advisors Inc. boosted its stake in shares of Comcast by 3.2% during the 2nd quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock worth $2,963,000 after buying an additional 2,593 shares during the last quarter. United Bank grew its holdings in shares of Comcast by 11.3% in the 2nd quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC grew its holdings in shares of Comcast by 119.4% in the 2nd quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after acquiring an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its position in shares of Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after acquiring an additional 15,865 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.
About Comcast
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.
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