Comcast (NASDAQ:CMCSA) Given New $26.00 Price Target at The Goldman Sachs Group

Comcast (NASDAQ:CMCSA) had its price objective reduced by The Goldman Sachs Group from $29.00 to $26.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the cable giant’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 9.57% from the company’s previous close.

Several other research analysts have also weighed in on the stock. New Street Research lowered their price objective on shares of Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Wall Street Zen upgraded Comcast to a “hold” rating in a report on Saturday, March 14th. Evercore boosted their price target on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft raised shares of Comcast from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday. Finally, Freedom Capital upgraded shares of Comcast to a “hold” rating in a report on Friday, June 12th. Eleven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $34.40.

Comcast Price Performance

NASDAQ:CMCSA opened at $23.73 on Thursday. The stock has a market capitalization of $84.77 billion, a PE ratio of 4.67, a P/E/G ratio of 2.01 and a beta of 0.67. Comcast has a 1-year low of $22.13 and a 1-year high of $36.40. The firm has a fifty day simple moving average of $24.97 and a 200 day simple moving average of $27.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The company’s quarterly 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 earnings per share. On average, research analysts expect that Comcast will post 3.51 EPS for the current fiscal year.

Institutional Trading of Comcast

Several hedge funds have recently added to or reduced their stakes in CMCSA. Lowe Brockenbrough & Co. Inc. increased its position in Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after buying an additional 352 shares during the period. Cora Capital Advisors LLC grew its stake 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 valued at $329,000 after acquiring an additional 362 shares in the last quarter. Oakworth Capital Inc. increased its position in 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 period. WPG Advisers LLC increased its position in Comcast by 15.9% during the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock worth $84,000 after acquiring an additional 384 shares during the period. Finally, Addison Advisors LLC raised its stake in Comcast by 55.7% in the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock worth $32,000 after purchasing an additional 384 shares in the last quarter. 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.