Comcast (NASDAQ:CMCSA) Price Target Lowered to $27.50 at Citigroup

Key Points

• Citigroup lowered Comcast’s price target from $30.00 to $27.50 but maintained a “buy” rating, implying 21.95% potential upside from the prior close.
• Analyst sentiment is mixed: Comcast has an average “Hold” rating and a consensus target price of $32.17, based on 11 Buy, 13 Hold, and 4 Sell ratings.
• Comcast beat quarterly expectations with EPS of $1.04 versus $0.97 expected and revenue of $29.94 billion, although revenue declined 1.2% year over year and EPS fell from $1.25 in the comparable quarter.

Comcast (NASDAQ:CMCSA - Get Free Report) had its target price dropped by Citigroup from $30.00 to $27.50 in a note issued to investors on Thursday. The firm currently has a "buy" rating on the cable giant's stock. Citigroup's price target indicates a potential upside of 21.95% from the company's previous close.

Other analysts have also issued research reports about the company. Moffett Nathanson cut their price objective on Comcast from $53.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Barclays set a $26.00 price target on Comcast and gave the stock an "equal weight" rating in a report on Friday, July 24th. Seaport Research Partners upgraded shares of Comcast from a "neutral" rating to a "buy" rating in a research report on Thursday, July 2nd. Morgan Stanley set a $29.00 price objective on shares of Comcast in a report on Friday, July 24th. Finally, New Street Research cut their price target on Comcast from $31.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $32.17.

Comcast Trading Up 0.6%

Comcast stock opened at $22.55 on Thursday. Comcast has a one year low of $21.28 and a one year high of $32.85. The business's fifty day moving average is $24.99 and its 200 day moving average is $25.80. The stock has a market capitalization of $80.02 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.80 and a quick ratio of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter last year, the firm posted $1.25 EPS. The business's quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Comcast will post 3.5 EPS for the current year.

Institutional Trading of Comcast

Institutional investors and hedge funds have recently made changes to their positions in the business. Allied Private Wealth LLC bought a new position in Comcast in the 2nd quarter worth about $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after purchasing an additional 401 shares during the period. Main Street Group LTD purchased a new stake in shares of Comcast in the first quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new position in Comcast in the second quarter worth approximately $29,000. Finally, Provenance Wealth Advisors LLC purchased a new position in Comcast during the 1st quarter worth $30,000. 84.32% of the stock is currently owned by institutional investors.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.

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