Comcast (NASDAQ:CMCSA) Reaches New 12-Month Low on Analyst Downgrade

Comcast Corporation (NASDAQ:CMCSA)’s share price reached a new 52-week low during mid-day trading on Tuesday after Arete lowered their price target on the stock from $39.00 to $33.00. Arete currently has a neutral rating on the stock. Comcast traded as low as $29.13 and last traded at $29.3710, with a volume of 3356924 shares. The stock had previously closed at $29.42.

CMCSA has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating on shares of Comcast in a report on Friday, July 18th. Royal Bank Of Canada began coverage on Comcast in a research note on Monday, September 8th. They issued a “sector perform” rating and a $38.00 target price for the company. Arete Research upgraded shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Scotiabank reissued a “sector perform” rating and set a $45.50 price objective (up previously from $45.00) on shares of Comcast in a report on Monday, October 6th. Finally, Moffett Nathanson boosted their target price on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.52.

Institutional Investors Weigh In On Comcast

Several institutional investors have recently modified their holdings of CMCSA. Capital A Wealth Management LLC lifted its holdings in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Cranbrook Wealth Management LLC raised its position 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 valued at $27,000 after acquiring an additional 350 shares during the last quarter. Global Trust Asset Management LLC lifted its stake in shares of Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares during the period. Avalon Trust Co boosted its position in shares of Comcast by 433.3% in the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of Comcast during the first quarter worth $29,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Down 0.5%

The business has a fifty day moving average of $31.75 and a 200 day moving average of $33.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $108.11 billion, a P/E ratio of 4.84, a P/E/G ratio of 1.74 and a beta of 0.94.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $30.34 billion during the quarter. Comcast had a return on equity of 18.86% and a net margin of 18.44%. On average, equities research analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

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.