Robert W. Baird Reaffirms “Buy” Rating for Comcast Corporation (CMCSA)
Comcast Corporation (NASDAQ:CMCSA)‘s stock had its “buy” rating restated by research analysts at Robert W. Baird in a research note issued to investors on Wednesday. They currently have a $43.00 target price on the cable giant’s stock. Robert W. Baird’s price objective would indicate a potential upside of 11.43% from the company’s previous close.
A number of other equities analysts have also recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $44.00 price target on shares of Comcast Corporation in a research report on Thursday, September 21st. KeyCorp reissued a “neutral” rating on shares of Comcast Corporation in a research report on Sunday, September 17th. Moffett Nathanson raised shares of Comcast Corporation from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, September 12th. They noted that the move was a valuation call. ValuEngine cut shares of Comcast Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, UBS AG reissued an “overweight” rating on shares of Comcast Corporation in a research report on Thursday, August 24th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Comcast Corporation presently has a consensus rating of “Buy” and an average target price of $45.83.
Shares of Comcast Corporation (NASDAQ:CMCSA) traded up 0.76% during mid-day trading on Wednesday, reaching $38.59. 20,979,252 shares of the company’s stock traded hands. The company’s 50 day moving average is $39.08 and its 200-day moving average is $39.22. The firm has a market cap of $181.89 billion, a price-to-earnings ratio of 19.44 and a beta of 0.98. Comcast Corporation has a 52 week low of $30.02 and a 52 week high of $42.18.
Comcast Corporation (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 27th. The cable giant reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $21.17 billion for the quarter, compared to analysts’ expectations of $20.85 billion. Comcast Corporation had a net margin of 11.45% and a return on equity of 16.80%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. Equities analysts expect that Comcast Corporation will post $2.04 earnings per share for the current fiscal year.
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In other news, Director Kenneth J. Bacon sold 2,232 shares of Comcast Corporation stock in a transaction dated 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 owns 24,580 shares of the company’s stock, valued at approximately $916,096.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur R. Block sold 4,091 shares of Comcast Corporation stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the transaction, the executive vice president now directly owns 68,478 shares of the company’s stock, valued at approximately $2,626,816.08. The disclosure for this sale can be found here. In the last three months, insiders sold 9,982 shares of company stock valued at $385,050. Insiders own 1.28% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Centre Asset Management LLC boosted its holdings in shares of Comcast Corporation by 21.0% during the 3rd quarter. Centre Asset Management LLC now owns 256,970 shares of the cable giant’s stock worth $9,888,000 after buying an additional 44,550 shares during the period. Curbstone Financial Management Corp boosted its holdings in shares of Comcast Corporation by 104.2% during the 3rd quarter. Curbstone Financial Management Corp now owns 28,904 shares of the cable giant’s stock worth $1,112,000 after buying an additional 14,752 shares during the period. Bridges Investment Management Inc. boosted its holdings in shares of Comcast Corporation by 1.0% during the 3rd quarter. Bridges Investment Management Inc. now owns 165,447 shares of the cable giant’s stock worth $6,366,000 after buying an additional 1,570 shares during the period. MPS Loria Financial Planners LLC bought a new stake in shares of Comcast Corporation during the 2nd quarter worth about $107,000. Finally, Griffin Asset Management Inc. bought a new stake in shares of Comcast Corporation during the 2nd quarter worth about $599,000. 81.93% of the stock is owned by institutional investors.
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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