Comcast (NASDAQ:CMCSA) Price Target Raised to $47.75

Comcast (NASDAQ:CMCSA) had its price objective upped by Scotiabank from $47.25 to $47.75 in a research report released on Friday, Marketbeat reports. Scotiabank currently has a sector perform rating on the cable giant’s stock.

A number of other research firms also recently weighed in on CMCSA. KeyCorp reduced their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Macquarie reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group assumed coverage on Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.58.

Comcast Price Performance

Shares of CMCSA stock opened at $41.93 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast has a 12-month low of $36.43 and a 12-month high of $47.11. The firm has a fifty day moving average of $40.30 and a 200-day moving average of $39.44. The firm has a market capitalization of $164.52 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. Comcast’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. On average, equities research analysts forecast that Comcast will post 4.23 earnings per share for the current year.

Institutional Investors Weigh In On Comcast

A number of large investors have recently bought and sold shares of the company. Capital Investment Advisors LLC boosted its stake in Comcast by 4.5% in the second quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after buying an additional 1,550 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of Comcast by 8.9% in the 2nd quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after purchasing an additional 15,664 shares in the last quarter. BNP Paribas bought a new stake in shares of Comcast during the 1st quarter valued at approximately $4,117,000. Douglas Lane & Associates LLC increased its position in Comcast by 0.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock worth $92,331,000 after purchasing an additional 15,807 shares in the last quarter. Finally, American National Bank & Trust Co. VA bought a new position in Comcast in the 1st quarter valued at approximately $426,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Company Profile

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.