Scotiabank Forecasts Strong Price Appreciation for Comcast (NASDAQ:CMCSA) Stock

Comcast (NASDAQ:CMCSA) had its price objective increased by investment analysts at Scotiabank from $44.50 to $45.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the cable giant’s stock. Scotiabank’s target price would indicate a potential upside of 28.61% from the stock’s previous close.

A number of other equities analysts also recently weighed in on CMCSA. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research note on Thursday, April 10th. TD Cowen cut their price target on shares of Comcast from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. UBS Group set a $44.50 price target on shares of Comcast in a research note on Friday, April 25th. Evercore ISI cut their price target on shares of Comcast from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, New Street Research cut their price target on shares of Comcast from $44.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Comcast presently has an average rating of “Hold” and a consensus target price of $40.98.

Comcast Stock Down 1.2%

CMCSA stock opened at $34.99 on Friday. The company’s 50 day simple moving average is $34.96 and its 200-day simple moving average is $35.41. The firm has a market capitalization of $130.64 billion, a PE ratio of 8.60, a P/E/G ratio of 1.69 and a beta of 0.95. Comcast has a 12 month low of $31.44 and a 12 month high of $45.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.65 and a quick ratio of 0.65.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same quarter last year, the business earned $1.04 earnings per share. Comcast’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that Comcast will post 4.33 earnings per share for the current fiscal year.

Institutional Trading of Comcast

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Comcast by 42.9% in the 4th quarter. Proficio Capital Partners LLC now owns 15,930 shares of the cable giant’s stock worth $598,000 after purchasing an additional 4,781 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Comcast by 887.4% in the 4th quarter. AlphaQuest LLC now owns 11,513 shares of the cable giant’s stock worth $432,000 after purchasing an additional 10,347 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Comcast by 2.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 31,076 shares of the cable giant’s stock worth $1,166,000 after purchasing an additional 843 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Comcast by 62.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 389,177 shares of the cable giant’s stock worth $14,606,000 after purchasing an additional 149,704 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

About Comcast

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.