Morgan Stanley Lowers Comcast (NASDAQ:CMCSA) Price Target to $30.00

Comcast (NASDAQ:CMCSA) had its price objective lowered by research analysts at Morgan Stanley from $33.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the cable giant’s stock. Morgan Stanley’s price target indicates a potential upside of 25.49% from the company’s current price.

Several other analysts also recently commented on CMCSA. Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a report on Wednesday, April 8th. Wall Street Zen raised Comcast to a “hold” rating in a research note on Saturday, March 14th. Seaport Research Partners upgraded Comcast from a “neutral” rating to a “buy” rating in a report on Thursday. Finally, Royal Bank Of Canada raised their price target on Comcast from $31.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.04.

Comcast Trading Up 2.3%

Shares of Comcast stock traded up $0.53 during trading on Tuesday, hitting $23.91. 6,718,297 shares of the company were exchanged, compared to its average volume of 34,600,633. The firm has a market capitalization of $85.40 billion, a P/E ratio of 4.73, a price-to-earnings-growth ratio of 1.95 and a beta of 0.67. Comcast has a 1-year low of $22.13 and a 1-year high of $36.06. The firm’s fifty day moving average price is $24.75 and its 200 day moving average price is $27.92. 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 (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same quarter last year, the firm earned $1.09 EPS. Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast will post 3.5 earnings per share for the current fiscal year.

Institutional Trading of Comcast

Several hedge funds and other institutional investors have recently modified their holdings of the company. Imprint Wealth LLC acquired a new position in shares of Comcast during the third quarter worth about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Comcast in the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC raised its position in Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after buying an additional 401 shares during the last quarter. Main Street Group LTD bought a new stake in Comcast in the 1st quarter valued at approximately $27,000. Finally, United Financial Planning Group LLC bought a new stake in Comcast in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

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.