Morgan Stanley Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its target price reduced by equities researchers at Morgan Stanley from $40.00 to $38.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the cable giant’s stock. Morgan Stanley’s price objective suggests a potential upside of 16.89% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen reduced their price target on shares of Comcast from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Comcast from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Oppenheimer reduced their target price on shares of Comcast from $55.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Bernstein Bank lowered their price target on shares of Comcast from $38.00 to $37.00 and set a “market perform” rating for the company in a report on Friday, April 25th. Finally, New Street Research dropped their price target on Comcast from $44.00 to $38.00 and set a “buy” rating for the company in a research report 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 issued a strong buy rating to the stock. According to data from MarketBeat, Comcast currently has a consensus rating of “Hold” and an average target price of $40.73.

Comcast Trading Down 0.2%

Shares of CMCSA stock opened at $32.51 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day simple moving average of $34.71 and a two-hundred day simple moving average of $35.05. The firm has a market capitalization of $121.38 billion, a PE ratio of 5.37, a PEG ratio of 1.96 and a beta of 0.92. Comcast has a 52-week low of $31.44 and a 52-week high of $45.31.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%. The business had revenue of $30.31 billion during the quarter, compared to the consensus estimate of $29.81 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Comcast will post 4.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Comcast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inlight Wealth Management LLC purchased a new position in Comcast in the first quarter valued at $26,000. Global Trust Asset Management LLC grew its position 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 valued at $27,000 after acquiring an additional 671 shares during the period. Cranbrook Wealth Management LLC increased its stake in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 350 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Comcast in the 1st quarter worth about $29,000. Finally, Abound Financial LLC purchased a new position in Comcast during the first quarter worth approximately $29,000. 84.32% of the stock is owned by institutional investors and hedge funds.

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.