Barclays PLC Reiterates $44.00 Price Target for Comcast Corporation (CMCSA)
Comcast Corporation (NASDAQ:CMCSA) has been assigned a $44.00 price target by Barclays PLC in a research report issued on Friday. The brokerage currently has a “buy” rating on the cable giant’s stock. Barclays PLC’s price objective would suggest a potential upside of 12.22% from the company’s previous close.
Several other brokerages have also recently issued reports on CMCSA. Moffett Nathanson cut Comcast Corporation from a “buy” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Tuesday, June 20th. ValuEngine cut Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut Comcast Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Macquarie restated a “buy” rating and issued a $45.00 price objective on shares of Comcast Corporation in a research note on Thursday, April 27th. Finally, Telsey Advisory Group raised their price objective on Comcast Corporation from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.68.
Shares of Comcast Corporation (NASDAQ CMCSA) remained flat at $39.20 during mid-day trading on Friday. 10,835,679 shares of the company’s stock traded hands. The stock has a market cap of $185.92 billion, a price-to-earnings ratio of 20.80 and a beta of 1.01. The stock’s 50 day moving average is $40.33 and its 200 day moving average is $37.94. Comcast Corporation has a one year low of $30.02 and a one year high of $42.18.
Comcast Corporation (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 27th. The cable giant reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. The business had revenue of $20.46 billion during the quarter, compared to the consensus estimate of $20.10 billion. Comcast Corporation had a return on equity of 15.98% and a net margin of 11.12%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. Analysts forecast that Comcast Corporation will post $1.99 earnings per share for the current fiscal year.
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In other Comcast Corporation news, EVP Stephen B. Burke sold 258,380 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $38.99, for a total transaction of $10,074,236.20. Following the transaction, the executive vice president now owns 980,498 shares of the company’s stock, valued at $38,229,617.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur R. Block sold 2,356 shares of the business’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $37.82, for a total value of $89,103.92. Following the transaction, the executive vice president now directly owns 62,988 shares in the company, valued at approximately $2,382,206.16. The disclosure for this sale can be found here. Insiders have sold 268,236 shares of company stock worth $10,467,090 in the last three months. 1.28% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in CMCSA. State Street Corp raised its position in shares of Comcast Corporation by 97.6% in the first quarter. State Street Corp now owns 199,519,367 shares of the cable giant’s stock valued at $7,499,933,000 after buying an additional 98,570,377 shares during the period. Clearbridge Investments LLC raised its position in shares of Comcast Corporation by 97.6% in the first quarter. Clearbridge Investments LLC now owns 97,454,749 shares of the cable giant’s stock valued at $3,663,324,000 after buying an additional 48,147,456 shares during the period. Ameriprise Financial Inc. raised its position in shares of Comcast Corporation by 95.7% in the first quarter. Ameriprise Financial Inc. now owns 59,716,372 shares of the cable giant’s stock valued at $2,244,768,000 after buying an additional 29,199,805 shares during the period. Bank of New York Mellon Corp raised its position in shares of Comcast Corporation by 103.1% in the first quarter. Bank of New York Mellon Corp now owns 56,323,747 shares of the cable giant’s stock valued at $2,117,212,000 after buying an additional 28,597,277 shares during the period. Finally, Dodge & Cox acquired a new position in shares of Comcast Corporation during the fourth quarter valued at approximately $2,643,845,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.
About Comcast Corporation
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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