Comcast (NASDAQ:CMCSA) Given New $34.00 Price Target at Scotiabank

Comcast (NASDAQ:CMCSA) had its price objective cut by Scotiabank from $35.25 to $34.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “sector perform” rating on the cable giant’s stock. Scotiabank’s price target would suggest a potential upside of 21.29% from the company’s current price.

A number of other analysts also recently issued reports on CMCSA. Pivotal Research downgraded Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Royal Bank Of Canada lowered their target price on shares of Comcast from $32.00 to $31.00 and set a “sector perform” rating for the company in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. TD Cowen cut their target price on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Zacks Research lowered Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.71.

Comcast Stock Down 2.4%

CMCSA opened at $28.03 on Wednesday. The firm’s fifty day moving average is $30.34 and its 200 day moving average is $29.43. Comcast has a fifty-two week low of $25.75 and a fifty-two week high of $36.66. The stock has a market cap of $100.85 billion, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 2.30 and a beta of 0.79. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The firm had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter last year, the business posted $0.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Comcast will post 4.33 earnings per share for the current fiscal year.

Insider Activity at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the sale, the chief executive officer owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.26% of the stock is owned by company insiders.

Institutional Trading of Comcast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Purpose Unlimited Inc. acquired a new stake in shares of Comcast during the 4th quarter worth approximately $77,000. Stance Capital LLC increased its stake in Comcast by 20.7% during the 4th quarter. Stance Capital LLC now owns 50,203 shares of the cable giant’s stock worth $1,501,000 after buying an additional 8,621 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Comcast by 217.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,218,001 shares of the cable giant’s stock worth $36,406,000 after buying an additional 834,891 shares in the last quarter. World Investment Advisors raised its holdings in shares of Comcast by 17.1% during the fourth quarter. World Investment Advisors now owns 328,962 shares of the cable giant’s stock valued at $9,833,000 after acquiring an additional 47,936 shares during the last quarter. Finally, Winthrop Partners WNY LLC acquired a new position in shares of Comcast during the fourth quarter valued at approximately $938,000. 84.32% of the stock is owned by institutional investors and hedge funds.

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.