Sanford C. Bernstein Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price objective decreased by equities research analysts at Sanford C. Bernstein from $37.00 to $36.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “market perform” rating on the cable giant’s stock. Sanford C. Bernstein’s target price would suggest a potential upside of 7.78% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Moffett Nathanson raised their price target on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Rothschild & Co Redburn decreased their target price on Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Rosenblatt Securities upped their price target on Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 4th. Citigroup reissued a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. Finally, Benchmark reaffirmed a “buy” rating on shares of Comcast in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $40.56.

Comcast Trading Down 0.2%

Shares of CMCSA stock opened at $33.40 on Wednesday. Comcast has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. 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 50 day simple moving average of $33.85 and a two-hundred day simple moving average of $34.62. The company has a market cap of $123.32 billion, a P/E ratio of 5.52, a PEG ratio of 2.01 and a beta of 0.93.

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

Hedge Funds Weigh In On Comcast

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foster Group Inc. lifted its stake in Comcast by 4.0% in the second quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock worth $265,000 after acquiring an additional 282 shares during the period. Sculati Wealth Management LLC boosted its stake in shares of Comcast by 0.9% during the fourth quarter. Sculati Wealth Management LLC now owns 30,792 shares of the cable giant’s stock valued at $1,156,000 after purchasing an additional 285 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in Comcast by 9.0% during the first quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant’s stock valued at $134,000 after buying an additional 300 shares during the period. Argyle Capital Management LLC raised its stake in Comcast by 0.5% in the second quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock worth $2,184,000 after buying an additional 300 shares in the last quarter. Finally, Clearstead Trust LLC lifted its holdings in Comcast by 5.2% during the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock worth $227,000 after buying an additional 305 shares during the period. Hedge funds and other institutional investors 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.