Royal Bank Of Canada Lowers Comcast (NASDAQ:CMCSA) Price Target to $27.00

Comcast (NASDAQ:CMCSA) had its price target reduced by investment analysts at Royal Bank Of Canada from $32.00 to $27.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the cable giant’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 13.40% from the company’s previous close.

Several other equities analysts also recently issued reports on CMCSA. The Goldman Sachs Group reduced their price objective on Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. New Street Research cut their target price on Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research report on Monday, July 6th. Evercore increased their price target on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, UBS Group reissued a “neutral” rating on shares of Comcast in a report on Tuesday, June 23rd. Eleven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.45.

Comcast Stock Up 0.1%

CMCSA stock opened at $23.81 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast has a fifty-two week low of $22.13 and a fifty-two week high of $36.01. The firm’s 50-day simple moving average is $23.96 and its 200 day simple moving average is $27.40. The stock has a market cap of $85.05 billion, a PE ratio of 4.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same period in the previous year, the business posted $1.09 EPS. Comcast’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Comcast will post 3.48 EPS for the current year.

Institutional Trading of Comcast

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lowe Brockenbrough & Co. Inc. raised its position in shares of Comcast by 4.9% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock valued at $225,000 after buying an additional 352 shares during the last quarter. Cora Capital Advisors LLC lifted its holdings in shares of Comcast by 3.4% in the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after buying an additional 362 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of Comcast by 7.4% during the fourth quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock worth $164,000 after acquiring an additional 377 shares during the last quarter. WPG Advisers LLC grew its stake in Comcast by 15.9% during the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock valued at $84,000 after acquiring an additional 384 shares in the last quarter. Finally, Addison Advisors LLC grew its stake in Comcast by 55.7% during the fourth quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 384 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Key Headlines Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Universal Pictures’ The Odyssey delivered a strong global opening, highlighting a bright spot for Comcast’s media business and showing that the company can still produce major box-office hits. Article: Comcast’s Universal Pictures Nets $264.1 Million Global Opening for ‘The Odyssey’
• Positive Sentiment: The film’s strong premium-theater performance and IMAX-related enthusiasm suggest some support for Comcast’s entertainment segment and broader recovery hopes. Article: IMAX, CMCSA Rise Premarket: Christopher Nolan’s ‘The Odyssey’ Notches Epic Box Office Opening
• Neutral Sentiment: Analysts are focusing on Comcast’s Q2 report for signs of stabilization in broadband, media, and theme parks, with investors waiting to see whether core business pressures are easing. Article: Comcast Gears Up to Report Q2 Earnings: What’s in the Cards?
• Neutral Sentiment: Comcast is also getting broader market attention, but this appears to be more of a visibility story than a fundamental shift. Article: Comcast (NASDAQ:CMCSA) Draws Fresh Nasdaq Composite Attention
• Negative Sentiment: Comcast’s broadband business remains under pressure and is the main reason investors are not rewarding the stock more for the movie success, since it is still seen as the key earnings risk ahead of results. Article: Why ‘The Odyssey’ Box Office Success Isn’t Lifting Comcast Stock
• Negative Sentiment: Royal Bank of Canada cut its price target on CMCSA from $32 to $27, signaling more cautious expectations for the stock even while maintaining a sector perform rating. Article: Comcast price target lowered by Royal Bank Of Canada

About Comcast

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.