Scotiabank Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price objective decreased by analysts at Scotiabank from $36.00 to $32.75 in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage presently has a “sector perform” rating on the cable giant’s stock. Scotiabank’s price objective points to a potential upside of 35.89% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup dropped their target price on shares of Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Morgan Stanley reduced their price target on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, July 7th. Seaport Research Partners upgraded shares of Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. New Street Research dropped their price objective on shares of Comcast from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Finally, BNP Paribas Exane cut their price objective on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research report on Tuesday. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Comcast currently has a consensus rating of “Hold” and a consensus price target of $33.64.

Comcast Stock Performance

CMCSA opened at $24.10 on Wednesday. The firm has a market capitalization of $86.09 billion, a P/E ratio of 4.74, a price-to-earnings-growth ratio of 1.94 and a beta of 0.67. The stock’s 50 day moving average price is $24.04 and its two-hundred day moving average price is $27.53. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast has a 12-month low of $22.13 and a 12-month high of $36.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. During the same period in the previous year, the business posted $1.09 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Comcast will post 3.49 earnings per share for the current year.

Institutional Investors Weigh In On Comcast

A number of institutional investors have recently bought and sold shares of CMCSA. Imprint Wealth LLC bought a new stake in Comcast in the 3rd quarter valued at $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Comcast during the 4th quarter worth about $27,000. Whipplewood Advisors LLC lifted its holdings in shares of Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after acquiring an additional 401 shares during the period. Main Street Group LTD acquired a new stake in shares of Comcast during the 1st quarter valued at about $27,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Comcast during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Trending Headlines about Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast has recently shown relative strength versus the broader market, with one report noting the shares outperformed in the latest session and closed higher, suggesting some investors are still buying the dip ahead of earnings.
• Neutral Sentiment: The company is set to report earnings on Thursday, and analysts are framing the release as a key test of whether Comcast can beat expectations amid signs of declining earnings. Analysts Estimate Comcast (CMCSA) to Report a Decline in Earnings: What to Look Out for
• Neutral Sentiment: Scotiabank lowered its price target on Comcast to $32.75 from $36 while keeping a sector perform rating, signaling reduced upside expectations rather than a major change in outlook.
• Neutral Sentiment: Wells Fargo also trimmed its price target to $28 from $29 and maintained an Underweight rating, reinforcing a cautious stance on the stock.
• Negative Sentiment: Comcast agreed to a $117.5 million settlement related to the Xfinity data breach, adding legal, reputational, and cybersecurity overhang ahead of earnings.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.