Comcast (NASDAQ:CMCSA) was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $52.00 price objective on the cable giant’s stock, up from their prior price objective of $48.00. Sanford C. Bernstein’s price objective points to a potential upside of 33.40% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Co increased their price target on shares of Comcast from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Robert W. Baird cut Comcast from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $38.00 in a research report on Monday, March 23rd. Oppenheimer reissued a “hold” rating on shares of Comcast in a report on Thursday, April 30th. KeyCorp lowered their price target on Comcast from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Finally, Raymond James cut Comcast from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $48.08.
Shares of Comcast stock opened at $38.98 on Wednesday. Comcast has a 12 month low of $31.70 and a 12 month high of $47.74. The firm has a market capitalization of $177.30 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.74 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $39.13 and a two-hundred day simple moving average of $40.67.
Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 30th. The cable giant reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Comcast had a net margin of 10.72% and a return on equity of 17.56%. The business had revenue of $26.61 billion during the quarter, compared to the consensus estimate of $26.71 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Analysts predict that Comcast will post 2.38 earnings per share for the current year.
In other news, CAO Daniel C. Murdock sold 919 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $37.53, for a total transaction of $34,490.07. Following the completion of the transaction, the chief accounting officer now owns 2,654 shares in the company, valued at $99,604.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Daniel C. Murdock sold 4,536 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $38.60, for a total value of $175,089.60. Following the transaction, the chief accounting officer now owns 10,085 shares of the company’s stock, valued at approximately $389,281. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Islay Capital Management LLC bought a new position in shares of Comcast during the 4th quarter valued at approximately $28,000. Capital Wealth Alliance LLC purchased a new position in Comcast during the fourth quarter worth $30,000. TFG Advisers LLC bought a new position in Comcast during the fourth quarter valued at $32,000. Efficient Wealth Management LLC bought a new position in Comcast during the first quarter valued at $25,000. Finally, Filbrandt Wealth Management LLC purchased a new stake in shares of Comcast in the fourth quarter valued at $34,000. 83.23% of the stock is owned by hedge funds and other institutional investors.
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.
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