Comcast (NASDAQ:CMCSA) Raised to “Buy” at Bank of America

Comcast (NASDAQ:CMCSA) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm currently has a $37.00 price target on the cable giant’s stock, up from their prior price target of $31.00. Bank of America‘s target price suggests a potential upside of 29.92% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. UBS Group set a $44.00 target price on Comcast in a report on Tuesday, January 6th. KeyCorp cut Comcast from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 30th. Rosenblatt Securities reduced their price objective on Comcast from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, December 1st. BNP Paribas Exane raised their price objective on Comcast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Finally, Citigroup dropped their target price on shares of Comcast from $39.00 to $35.00 and set a “buy” rating for the company in a report on Friday, October 31st. Twelve investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $34.98.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $28.48 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day moving average of $28.06 and a 200 day moving average of $30.92. The firm has a market cap of $103.78 billion, a PE ratio of 4.74, a PEG ratio of 2.07 and a beta of 0.81. Comcast has a one year low of $25.75 and a one year high of $38.40.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, October 30th. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $31.20 billion for the quarter, compared to the consensus estimate of $30.74 billion. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. As a group, research analysts predict that Comcast will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Comcast

A number of institutional investors have recently bought and sold shares of CMCSA. Brighton Jones LLC grew its position in Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after acquiring an additional 99,986 shares during the period. Jones Financial Companies Lllp raised its position in Comcast by 22.3% in the first quarter. Jones Financial Companies Lllp now owns 1,087,679 shares of the cable giant’s stock valued at $39,902,000 after purchasing an additional 198,377 shares during the period. Modern Wealth Management LLC lifted its stake in shares of Comcast by 35.3% in the 1st quarter. Modern Wealth Management LLC now owns 14,456 shares of the cable giant’s stock valued at $533,000 after purchasing an additional 3,769 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Comcast during the 2nd quarter worth $265,000. Finally, Parallel Advisors LLC grew its holdings in shares of Comcast by 2.8% during the 2nd quarter. Parallel Advisors LLC now owns 66,250 shares of the cable giant’s stock worth $2,364,000 after purchasing an additional 1,806 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.