Oppenheimer Trims Comcast (NASDAQ:CMCSA) Target Price to $60.00

Comcast (NASDAQ:CMCSAGet Rating) had its price target lowered by research analysts at Oppenheimer from $75.00 to $60.00 in a report issued on Thursday, The Fly reports. Oppenheimer’s target price points to a potential upside of 25.23% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Citigroup downgraded Comcast from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $60.00 to $53.00 in a research report on Wednesday, December 15th. StockNews.com began coverage on shares of Comcast in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Morgan Stanley cut their target price on shares of Comcast from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, January 28th. Truist Financial cut shares of Comcast from a “buy” rating to a “hold” rating and cut their target price for the company from $70.00 to $50.00 in a research note on Tuesday, March 1st. Finally, TD Securities lifted their target price on shares of Comcast from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Comcast currently has an average rating of “Buy” and an average price target of $61.88.

Shares of NASDAQ:CMCSA opened at $47.91 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.00. Comcast has a 1 year low of $44.27 and a 1 year high of $61.80. The business has a fifty day simple moving average of $47.10 and a 200 day simple moving average of $50.14. The firm has a market cap of $217.19 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.00 and a beta of 0.92.

Comcast (NASDAQ:CMCSAGet Rating) last posted its earnings results on Thursday, January 27th. The cable giant reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Comcast had a return on equity of 15.61% and a net margin of 12.17%. The company had revenue of $30.34 billion for the quarter, compared to analyst estimates of $29.63 billion. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Comcast will post 3.53 EPS for the current year.

In other Comcast news, CEO David N. Watson sold 65,410 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $45.69, for a total transaction of $2,988,582.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.35% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Comcast during the 3rd quarter valued at approximately $26,000. AHL Investment Management Inc. purchased a new stake in Comcast in the 4th quarter worth approximately $30,000. Sandy Cove Advisors LLC purchased a new stake in Comcast in the 4th quarter worth approximately $31,000. Core Alternative Capital increased its holdings in shares of Comcast by 86.9% in the 4th quarter. Core Alternative Capital now owns 684 shares of the cable giant’s stock worth $34,000 after buying an additional 318 shares during the last quarter. Finally, Tower View Investment Management & Research LLC increased its holdings in shares of Comcast by 221.1% in the 3rd quarter. Tower View Investment Management & Research LLC now owns 700 shares of the cable giant’s stock worth $39,000 after buying an additional 482 shares during the last quarter. Hedge funds and other institutional investors own 82.58% of the company’s stock.

Comcast Company Profile (Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

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