Comcast (NASDAQ:CMCSA – Get Free Report)‘s stock had its “buy” rating restated by Rosenblatt Securities in a note issued to investors on Monday, Benzinga reports. They presently have a $31.00 target price on the cable giant’s stock. Rosenblatt Securities’ target price points to a potential upside of 38.64% from the company’s current price.
A number of other brokerages have also commented on CMCSA. The Goldman Sachs Group decreased their price objective on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft raised Comcast from a “hold” rating to a “buy” rating and lowered their target price for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Citigroup dropped their target price on Comcast from $30.00 to $27.50 and set a “buy” rating on the stock in a report on Thursday, September 24th. BNP Paribas Exane dropped their target price on Comcast from $25.00 to $22.00 and set an “underperform” rating on the stock in a report on Tuesday, July 14th. Finally, New Street Research reduced their price target on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Eleven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, Comcast currently has an average rating of “Hold” and an average target price of $30.81.
Check Out Our Latest Report on CMCSA
Comcast Price Performance
CMCSA opened at $22.36 on Monday. The stock has a fifty day moving average of $24.01 and a 200-day moving average of $24.72. The firm has a market capitalization of $79.35 billion, a P/E ratio of 5.78, a PEG ratio of 1.57 and a beta of 0.68. Comcast has a 12-month low of $20.48 and a 12-month high of $32.85. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.
Comcast (NASDAQ:CMCSA – Get Free Report) last issued its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%. Comcast’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. Equities analysts forecast that Comcast will post 3.49 EPS for the current fiscal year.
Institutional Trading of Comcast
Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Comcast by 10.2% during the 1st quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after acquiring an additional 3,783,234 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Comcast by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant’s stock valued at $845,919,000 after purchasing an additional 507,097 shares in the last quarter. First Trust Advisors LP increased its stake in Comcast by 4.9% in the first quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant’s stock valued at $390,231,000 after purchasing an additional 630,902 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Comcast by 824.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant’s stock worth $333,509,000 after purchasing an additional 10,359,800 shares during the period. Finally, Swiss National Bank raised its holdings in Comcast by 5.7% in the first quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant’s stock worth $306,227,000 after purchasing an additional 574,300 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.
Trending Headlines about Comcast
Here are the key news stories impacting Comcast this week:
- Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and set a $31 price target, implying substantial upside from recent trading levels. Comcast’s Buy Rating Reiterated at Rosenblatt Securities
- Positive Sentiment: Comcast’s low valuation and roughly 6.3% dividend yield are attracting value investors; billionaire investor David Einhorn reportedly added a new CMCSA position. Comcast Stock Has an Attractive Valuation and Offers a Dividend Yield of 6.32%
- Positive Sentiment: Investors may be positioning for another earnings beat, with streaming and studio businesses expected to provide support ahead of the October 22 third-quarter report. Comcast Gears Up to Report Q3 Earnings
- Neutral Sentiment: Analysts expect third-quarter earnings of approximately $0.98 per share, one cent below the estimate from 30 days earlier. Key metrics, including broadband, wireless, streaming and theme-park performance, will likely determine the stock’s next move. Comcast Gears Up to Report Q3 Earnings
- Negative Sentiment: Put-option volume surged to 77,125 contracts, about 122% above normal, indicating increased short-term hedging or bearish speculation around the earnings event.
- Negative Sentiment: Bearish commentary argues that Comcast needs a turnaround while customers increasingly expect promotional offers, potentially pressuring revenue and profitability. Broadband weakness, softer theme-park demand and higher spending remain additional risks. Comcast: Wall Street Wants a Turnaround, Customers Want More Freebies
About Comcast
Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.
Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.
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