Comcast (NASDAQ:CMCSA) Cut to Hold at Seaport Res Ptn

Comcast (NASDAQ:CMCSA) was downgraded by Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

A number of other brokerages also recently weighed in on CMCSA. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Macquarie cut their price target on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. BNP Paribas downgraded shares of Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a report on Tuesday, June 11th. Scotiabank dropped their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. Finally, Citigroup dropped their price objective on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Comcast has an average rating of “Hold” and an average target price of $48.83.

Comcast Stock Performance

NASDAQ CMCSA opened at $38.48 on Monday. Comcast has a 1 year low of $36.43 and a 1 year high of $47.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $150.98 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.95 and a beta of 1.00. The company has a fifty day moving average price of $38.79 and a 200-day moving average price of $41.49.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm had revenue of $30.06 billion during the quarter, compared to analyst estimates of $29.83 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Comcast will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now directly owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. Luken Investment Analytics LLC grew its holdings in shares of Comcast by 258.0% in the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after purchasing an additional 418 shares during the last quarter. Steph & Co. grew its holdings in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Comcast in the fourth quarter worth approximately $28,000. Pineridge Advisors LLC bought a new position in shares of Comcast in the fourth quarter worth approximately $32,000. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in Comcast by 336.9% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after acquiring an additional 593 shares during the period. 84.32% of the stock is currently owned by institutional investors.

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.