Macquarie Forecasts Strong Price Appreciation for Comcast (NASDAQ:CMCSA) Stock

Comcast (NASDAQ:CMCSA) had its price target lifted by Macquarie from $40.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the cable giant’s stock. Macquarie’s price target would suggest a potential downside of 0.76% from the company’s current price.

A number of other research firms have also issued reports on CMCSA. Barclays upped their target price on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Wells Fargo & Company upped their target price on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.19.

Comcast Price Performance

Shares of CMCSA opened at $42.32 on Monday. Comcast has a twelve month low of $36.43 and a twelve month high of $47.11. The stock’s 50 day moving average is $41.73 and its two-hundred day moving average is $39.95. The firm has a market capitalization of $161.94 billion, a PE ratio of 11.38, a P/E/G ratio of 1.63 and a beta of 1.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.08 EPS. Research analysts anticipate that Comcast will post 4.25 earnings per share for the current year.

Institutional Trading of Comcast

Institutional investors have recently added to or reduced their stakes in the business. Fairscale Capital LLC purchased a new position in Comcast in the 2nd quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in Comcast in the 2nd quarter valued at about $27,000. IAG Wealth Partners LLC boosted its position in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. boosted its position in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new position in Comcast in the 3rd quarter valued at about $30,000. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.