Comcast (NASDAQ:CMCSA) Given New $31.00 Price Target at New Street Research

Comcast (NASDAQ:CMCSA – Get Free Report) had its price objective decreased by research analysts at New Street Research from $36.00 to $31.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the cable giant’s stock. New Street Research’s target price indicates a potential upside of 23.89% from the company’s previous close.

A number of other analysts also recently issued reports on CMCSA. Scotiabank lifted their price target on shares of Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Royal Bank Of Canada increased their price objective on shares of Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. The Goldman Sachs Group restated a “neutral” rating and set a $29.00 price objective on shares of Comcast in a research report on Thursday, April 23rd. TD Cowen decreased their target price on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $34.79.

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Comcast Price Performance

NASDAQ CMCSA traded up $0.12 during trading hours on Wednesday, reaching $25.02. The company’s stock had a trading volume of 5,844,661 shares, compared to its average volume of 33,056,422. Comcast has a 1 year low of $24.53 and a 1 year high of $36.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $89.38 billion, a price-to-earnings ratio of 4.92, a PEG ratio of 2.01 and a beta of 0.71. The firm’s 50-day moving average price is $28.74 and its 200-day moving average price is $28.83.

Comcast (NASDAQ:CMCSA – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating 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 business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Comcast will post 3.58 EPS for the current fiscal year.

Institutional Trading of Comcast

Several hedge funds have recently made changes to their positions in CMCSA. Phillip James Consulting Co. bought a new position in shares of Comcast in the 1st quarter valued at about $42,000. Danica Pension Livsforsikringsaktieselskab bought a new stake in Comcast during the first quarter worth approximately $9,973,000. Triad Investment Management raised its position in Comcast by 200.0% during the first quarter. Triad Investment Management now owns 20,646 shares of the cable giant’s stock valued at $615,000 after purchasing an additional 13,764 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in Comcast during the first quarter valued at approximately $588,000. Finally, HORAN Wealth LLC lifted its stake in shares of Comcast by 5.9% in the 1st quarter. HORAN Wealth LLC now owns 83,586 shares of the cable giant’s stock valued at $2,400,000 after purchasing an additional 4,637 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Company Profile

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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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