Comcast (NASDAQ:CMCSA) Price Target Cut to $52.00

Comcast (NASDAQ:CMCSAGet Rating) had its target price lowered by JPMorgan Chase & Co. from $60.00 to $52.00 in a report issued on Friday, The Fly reports. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 24.70% from the stock’s previous close.

Several other research analysts have also recently weighed in on CMCSA. TD Securities boosted their price objective on shares of Comcast from $69.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 28th. Truist Financial cut shares of Comcast from a “buy” rating to a “hold” rating and reduced their target price for the company from $70.00 to $50.00 in a report on Tuesday, March 1st. Pivotal Research reduced their target price on shares of Comcast from $62.00 to $57.00 in a report on Thursday. Barclays reduced their target price on shares of Comcast from $56.00 to $48.00 in a report on Friday. Finally, Rosenblatt Securities initiated coverage on shares of Comcast in a report on Tuesday, April 19th. They set a “neutral” rating and a $51.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.04.

Shares of Comcast stock opened at $41.70 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $189.04 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.00 and a beta of 0.92. Comcast has a 52-week low of $40.76 and a 52-week high of $61.80. The company has a 50-day simple moving average of $46.62 and a two-hundred day simple moving average of $49.39.

Comcast (NASDAQ:CMCSAGet Rating) last released its quarterly earnings data on Thursday, April 28th. The cable giant reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Comcast had a net margin of 12.17% and a return on equity of 15.61%. The firm had revenue of $31.01 billion during the quarter, compared to analysts’ expectations of $30.40 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts forecast that Comcast will post 3.52 EPS for the current fiscal year.

In related news, CEO David N. Watson sold 65,410 shares of the company’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 filing with the SEC, which is accessible through this hyperlink. 1.35% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Comcast by 2.4% in the fourth quarter. State Street Corp now owns 178,004,947 shares of the cable giant’s stock valued at $8,958,989,000 after acquiring an additional 4,198,673 shares during the period. Capital Research Global Investors increased its stake in Comcast by 8.8% in the 4th quarter. Capital Research Global Investors now owns 156,125,921 shares of the cable giant’s stock worth $7,857,828,000 after buying an additional 12,642,202 shares during the period. Wellington Management Group LLP increased its stake in Comcast by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 99,553,850 shares of the cable giant’s stock worth $5,568,047,000 after buying an additional 1,672,746 shares during the period. Dodge & Cox increased its stake in Comcast by 1.1% in the 4th quarter. Dodge & Cox now owns 84,666,165 shares of the cable giant’s stock worth $4,261,248,000 after buying an additional 958,091 shares during the period. Finally, Geode Capital Management LLC increased its stake in Comcast by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 79,539,982 shares of the cable giant’s stock worth $3,992,896,000 after buying an additional 2,575,372 shares during the period. 82.58% of the stock is currently owned by institutional investors and hedge funds.

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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