Comcast (NASDAQ:CMCSA) PT Set at $40.00 by Morgan Stanley

Comcast (NASDAQ:CMCSA) has been assigned a $40.00 price target by investment analysts at Morgan Stanley in a report issued on Wednesday, MarketBeat.com reports. The brokerage presently has an “equal weight” rating on the cable giant’s stock. Morgan Stanley’s target price would indicate a potential upside of 15.27% from the company’s current price.

A number of other research firms have also issued reports on CMCSA. Scotiabank increased their target price on Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Barclays reduced their target price on Comcast from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Wells Fargo & Company lowered Comcast from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $37.00 to $31.00 in a report on Monday, April 14th. Arete Research upgraded Comcast to a “hold” rating in a report on Tuesday, July 8th. Finally, Argus lowered Comcast from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus target price of $41.10.

Comcast Trading Up 0.9%

Shares of NASDAQ CMCSA opened at $34.70 on Wednesday. The stock’s 50 day moving average price is $35.00 and its two-hundred day moving average price is $35.35. Comcast has a 52-week low of $31.44 and a 52-week high of $45.31. The stock has a market capitalization of $129.56 billion, a P/E ratio of 8.53, a PEG ratio of 1.66 and a beta of 0.95. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data 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 return on equity of 19.70% and a net margin of 12.72%. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $29.82 billion. During the same period in the prior year, the company posted $1.04 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts anticipate that Comcast will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Inlight Wealth Management LLC acquired a new position in shares of Comcast during the 1st quarter worth approximately $26,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the period. Global Trust Asset Management LLC lifted its holdings in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after acquiring an additional 671 shares during the period. Abound Financial LLC bought a new stake in shares of Comcast during the 1st quarter worth approximately $29,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Comcast during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

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.