Comcast Co. (CMCSA) Receives Overweight Rating from Morgan Stanley
Comcast Co. (NASDAQ:CMCSA)‘s stock had its “overweight” rating restated by stock analysts at Morgan Stanley in a research report issued on Thursday. They presently have a $44.00 price objective on the cable giant’s stock. Morgan Stanley’s price objective indicates a potential upside of 17.46% from the stock’s previous close.
A number of other equities analysts also recently commented on the company. ValuEngine downgraded Comcast from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Comcast in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and issued a $47.00 target price on shares of Comcast in a research note on Friday, July 7th. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 target price on shares of Comcast in a research note on Sunday, July 9th. Finally, Moffett Nathanson upgraded Comcast from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, September 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $45.83.
Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The business had revenue of $21.17 billion during the quarter, compared to the consensus estimate of $20.85 billion. Comcast had a return on equity of 18.32% and a net margin of 11.98%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share.
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In related news, SVP Daniel C. Murdock sold 3,659 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $39.61, for a total transaction of $144,932.99. Following the sale, the senior vice president now owns 725 shares of the company’s stock, valued at $28,717.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth J. Bacon sold 2,232 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $37.27, for a total value of $83,186.64. Following the completion of the transaction, the director now directly owns 24,580 shares in the company, valued at approximately $916,096.60. The disclosure for this sale can be found here. 1.28% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Comcast by 100.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,680 shares of the cable giant’s stock valued at $100,000 after buying an additional 1,340 shares in the last quarter. Zions Bancorporation increased its holdings in shares of Comcast by 16.8% in the first quarter. Zions Bancorporation now owns 2,845 shares of the cable giant’s stock valued at $106,000 after buying an additional 410 shares in the last quarter. Clear Perspective Advisors LLC increased its holdings in shares of Comcast by 100.1% in the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock valued at $106,000 after buying an additional 1,362 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Comcast in the second quarter valued at $107,000. Finally, First Bank & Trust increased its holdings in shares of Comcast by 84.9% in the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock valued at $111,000 after buying an additional 1,302 shares in the last quarter. 81.93% of the stock is currently owned by institutional investors.
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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