Comcast (NASDAQ:CMCSA) Sets New 1-Year Low After Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA) shares reached a new 52-week low during mid-day trading on Friday after Wells Fargo & Company lowered their price target on the stock from $47.00 to $43.00. Wells Fargo & Company currently has an equal weight rating on the stock. Comcast traded as low as $36.43 and last traded at $38.26, with a volume of 4269295 shares. The stock had previously closed at $37.87.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Citigroup lifted their target price on shares of Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and cut their price target for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Finally, Scotiabank lowered their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Insider Buying and Selling

In related news, President Michael J. Cavanagh sold 114,749 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Comcast

A number of hedge funds have recently made changes to their positions in CMCSA. Everett Harris & Co. CA increased its holdings in shares of Comcast by 7.7% in the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after buying an additional 121,279 shares during the last quarter. Desjardins Global Asset Management Inc. increased its stake in Comcast by 1.5% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after acquiring an additional 1,486 shares during the last quarter. Altus Wealth Group LLC raised its position in Comcast by 8.3% during the fourth quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock valued at $823,000 after purchasing an additional 1,432 shares during the period. PFG Advisors lifted its stake in shares of Comcast by 28.8% in the 4th quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock valued at $1,012,000 after purchasing an additional 5,159 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Comcast in the 3rd quarter worth approximately $8,868,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Up 1.8 %

The stock has a market cap of $153.19 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.98 and a beta of 0.98. The company has a 50-day moving average price of $41.58 and a two-hundred day moving average price of $42.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, research analysts expect that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.