Morgan Stanley Lowers Comcast (NASDAQ:CMCSA) Price Target to $55.00

Comcast (NASDAQ:CMCSAGet Rating) had its target price reduced by research analysts at Morgan Stanley from $60.00 to $55.00 in a research note issued on Friday, The Fly reports. Morgan Stanley’s price objective would indicate a potential upside of 31.89% from the company’s previous close.

Several other equities analysts also recently commented on the company. Barclays lowered their price target on Comcast from $56.00 to $48.00 in a report on Friday. TD Securities increased their price target on Comcast from $69.00 to $70.00 and gave the company a “buy” rating in a report on Friday, January 28th. Cowen raised their price objective on shares of Comcast from $60.00 to $64.00 in a research note on Friday, January 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $62.00 to $60.00 in a research note on Friday. Finally, Truist Financial downgraded shares of Comcast from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $70.00 to $50.00 in a research note on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $59.85.

NASDAQ CMCSA opened at $41.70 on Friday. The company has a 50 day simple moving average of $46.62 and a 200-day simple moving average of $49.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $189.04 billion, a price-to-earnings 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.

Comcast (NASDAQ:CMCSAGet Rating) last released its quarterly earnings data on Thursday, April 28th. The cable giant reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Comcast had a return on equity of 15.61% and a net margin of 12.17%. The firm had revenue of $31.01 billion for the quarter, compared to the consensus estimate of $30.40 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. On average, analysts predict that Comcast will post 3.52 EPS for the current year.

In related news, CEO David N. Watson sold 65,410 shares of Comcast stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $45.69, for a total value of $2,988,582.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.35% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in CMCSA. Guinness Asset Management LTD grew its position in shares of Comcast by 7.5% during the 3rd quarter. Guinness Asset Management LTD now owns 423,439 shares of the cable giant’s stock worth $23,683,000 after buying an additional 29,619 shares during the period. CWM LLC bought a new position in shares of Comcast during the 4th quarter valued at about $23,672,000. Richard Bernstein Advisors LLC lifted its holdings in shares of Comcast by 10.3% during the 3rd quarter. Richard Bernstein Advisors LLC now owns 86,564 shares of the cable giant’s stock valued at $4,841,000 after purchasing an additional 8,071 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Comcast by 2.0% during the 3rd quarter. Greenleaf Trust now owns 106,914 shares of the cable giant’s stock valued at $5,980,000 after purchasing an additional 2,114 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Comcast during the 3rd quarter valued at about $6,767,000. Hedge funds and other institutional investors own 82.58% of the company’s stock.

About Comcast (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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