Comcast Corporation (CMCSA) Given New $48.00 Price Target at Argus
Comcast Corporation (NASDAQ:CMCSA) had its price objective upped by Argus from $44.00 to $48.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the cable giant’s stock. Argus’ target price would indicate a potential upside of 21.21% from the company’s current price.
Several other brokerages have also commented on CMCSA. Instinet restated a “buy” rating and issued a $46.00 price objective on shares of Comcast Corporation in a report on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and issued a $47.00 price objective (up from $43.00) on shares of Comcast Corporation in a report on Saturday, April 29th. Royal Bank Of Canada upped their price objective on shares of Comcast Corporation from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Comcast Corporation in a report on Wednesday, June 28th. Finally, TD Securities initiated coverage on shares of Comcast Corporation in a report on Thursday, July 13th. They issued a “buy” rating and a $51.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.69.
Shares of Comcast Corporation (CMCSA) traded down 0.25% during mid-day trading on Friday, reaching $39.60. 11,476,602 shares of the company’s stock traded hands. Comcast Corporation has a 12-month low of $30.02 and a 12-month high of $42.18. The company’s 50-day moving average price is $39.64 and its 200-day moving average price is $38.61. The stock has a market capitalization of $16.19 billion, a PE ratio of 10.50 and a beta of 1.01.
Comcast Corporation (NASDAQ:CMCSA) last posted its earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $21.17 billion for the quarter, compared to analyst estimates of $20.85 billion. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. Comcast Corporation’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.83 EPS. Analysts anticipate that Comcast Corporation will post $2.04 earnings per share for the current year.
In other Comcast Corporation news, Director Kenneth J. Bacon sold 7,500 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the sale, the director now directly owns 26,812 shares of the company’s stock, valued at approximately $1,085,886. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Stephen B. Burke sold 258,380 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $38.99, for a total transaction of $10,074,236.20. Following the completion of the transaction, the executive vice president now directly owns 980,498 shares in the company, valued at $38,229,617.02. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted 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 boosted 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. Dodge & Cox bought a new position in shares of Comcast Corporation during the fourth quarter valued at $2,643,845,000. Ameriprise Financial Inc. boosted 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. Finally, Bank of New York Mellon Corp boosted 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. 82.48% of the stock is currently owned by hedge funds and other institutional investors.
Comcast Corporation Company Profile
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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