Comcast (NASDAQ:CMCSA) Price Target Cut to $24.00 by Analysts at Rosenblatt Securities

Comcast (NASDAQ:CMCSA) had its target price reduced by equities research analysts at Rosenblatt Securities from $30.00 to $24.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has a “neutral” rating on the cable giant’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 2.09% from the stock’s previous close.

Other analysts also recently issued reports about the company. Wall Street Zen raised shares of Comcast to a “hold” rating in a research report on Saturday, March 14th. Evercore increased their price objective on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Royal Bank Of Canada raised their price objective on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price for the company. in a report on Friday, April 24th. Finally, Scotiabank increased their price target on Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.56.

Comcast Trading Up 0.8%

Shares of Comcast stock traded up $0.18 during trading on Friday, hitting $23.51. The stock had a trading volume of 5,737,479 shares, compared to its average volume of 32,928,617. The firm’s fifty day simple moving average is $26.87 and its 200-day simple moving average is $28.45. The stock has a market cap of $83.98 billion, a PE ratio of 4.63, a PEG ratio of 1.91 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast has a 12 month low of $23.13 and a 12 month high of $36.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. As a group, sell-side analysts expect that Comcast will post 3.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Comcast

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Comcast by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after buying an additional 2,160,829 shares during the last quarter. State Street Corp grew its holdings in Comcast by 3.4% during the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after acquiring an additional 6,117,946 shares during the period. Capital World Investors grew its holdings in Comcast by 20.8% during the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after acquiring an additional 24,166,881 shares during the period. Dodge & Cox raised its position in Comcast by 0.4% during the fourth quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock valued at $3,376,599,000 after acquiring an additional 399,596 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Comcast by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 89,913,362 shares of the cable giant’s stock valued at $2,680,747,000 after acquiring an additional 1,465,428 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.