Barclays Cuts Comcast (NASDAQ:CMCSA) Price Target to $30.00

Comcast (NASDAQ:CMCSA) had its price target dropped by equities research analysts at Barclays from $34.00 to $30.00 in a research note issued on Monday,MarketScreener reports. The firm currently has an “equal weight” rating on the cable giant’s stock. Barclays‘s target price would indicate a potential upside of 7.80% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Bank of America cut their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Rosenblatt Securities dropped their price objective on shares of Comcast from $38.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research report on Tuesday, October 14th. Arete Research raised Comcast to a “hold” rating in a research report on Tuesday, July 8th. Finally, Moffett Nathanson boosted their target price on Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Eleven analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.60.

Comcast Stock Performance

NASDAQ CMCSA opened at $27.83 on Monday. The stock has a fifty day simple moving average of $31.40 and a 200-day simple moving average of $33.32. Comcast has a twelve month low of $25.75 and a twelve month high of $45.31. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The stock has a market cap of $102.75 billion, a PE ratio of 4.63, a P/E/G ratio of 1.89 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. Equities analysts anticipate that Comcast will post 4.33 earnings per share for the current year.

Institutional Investors Weigh In On Comcast

Several hedge funds have recently made changes to their positions in CMCSA. Vanguard Group Inc. lifted its position in Comcast by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant’s stock worth $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. State Street Corp lifted its stake in shares of Comcast by 2.5% in the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant’s stock worth $6,166,154,000 after acquiring an additional 4,231,140 shares during the period. Dodge & Cox boosted its holdings in shares of Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after acquiring an additional 17,054,579 shares in the last quarter. Norges Bank acquired a new position in shares of Comcast during the second quarter worth about $3,528,361,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Comcast by 7.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant’s stock worth $1,289,984,000 after purchasing an additional 2,517,906 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.