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

Comcast (NASDAQ:CMCSA) had its price target raised by Pivotal Research from $47.00 to $54.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the cable giant’s stock. Pivotal Research’s price target would indicate a potential upside of 23.97% from the stock’s previous close.

CMCSA has been the subject of a number of other research reports. Barclays decreased their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $47.75 to $48.00 in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday. Finally, StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of “Moderate Buy” and a consensus target price of $46.63.

Comcast Price Performance

Comcast stock opened at $43.56 on Friday. The firm has a 50-day moving average price of $40.80 and a 200-day moving average price of $39.58. The firm has a market capitalization of $168.69 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The company has a current ratio of 0.66, a quick 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.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $1.08 EPS. As a group, equities research analysts forecast that Comcast will post 4.24 EPS for the current year.

Institutional Trading of Comcast

Large investors have recently made changes to their positions in the business. Fairscale Capital LLC purchased a new stake in shares of Comcast in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Comcast in the 2nd quarter valued at $27,000. IAG Wealth Partners LLC lifted its stake in shares of 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 purchasing an additional 522 shares during the period. McClarren Financial Advisors Inc. lifted its stake in shares of 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 purchasing an additional 570 shares during the period. Finally, Archer Investment Corp lifted its stake in shares of Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares during the period. 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.