Comcast (NASDAQ:CMCSA) Stock Price Target Lowered at Freedom Broker

Key Points

• Freedom Broker lowered Comcast’s price target from $29 to $25 and maintained a “hold” rating, implying 13.27% upside from the prior close.
• Analyst sentiment remains mixed: Comcast has an overall “Hold” consensus, with 11 Buy, 13 Hold, and 6 Sell ratings, and an average price target of $30.37.
• Comcast shares fell to $22.07, while the company’s latest quarterly results beat expectations with EPS of $1.07 versus $0.99 expected; revenue was $29.30 billion but declined 6.1% year over year.

Comcast (NASDAQ:CMCSA - Get Free Report) had its target price lowered by equities research analysts at Freedom Broker from $29.00 to $25.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "hold" rating on the cable giant's stock. Freedom Broker's price objective points to a potential upside of 13.27% from the company's previous close.

Several other research analysts have also commented on the stock. Citigroup decreased their price target on shares of Comcast from $30.00 to $27.50 and set a "buy" rating for the company in a report on Thursday, September 24th. Weiss Ratings cut shares of Comcast from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday. Rosenblatt Securities reaffirmed a "buy" rating and set a $31.00 target price on shares of Comcast in a report on Monday, October 19th. Zacks Research cut Comcast from a "hold" rating to a "strong sell" rating in a research report on Friday, October 16th. Finally, TD Cowen cut their price target on Comcast from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $30.37.

Comcast Stock Performance

Shares of CMCSA traded down $0.62 during mid-day trading on Monday, hitting $22.07. The stock had a trading volume of 26,689,473 shares, compared to its average volume of 32,792,340. Comcast has a fifty-two week low of $20.48 and a fifty-two week high of $32.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.91. The company has a market cap of $78.32 billion, a PE ratio of 6.97, a PEG ratio of 1.61 and a beta of 0.68. The company's fifty day simple moving average is $23.80 and its two-hundred day simple moving average is $24.61.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The firm had revenue of $29.30 billion for the quarter, compared to analysts' expectations of $29.22 billion. During the same period last year, the business posted $1.12 earnings per share. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts expect that Comcast will post 3.52 earnings per share for the current year.

Hedge Funds Weigh In On Comcast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMCSA. Bank of America Corp DE increased its holdings in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant's stock valued at $1,173,232,000 after purchasing an additional 3,783,234 shares during the period. Dimensional Fund Advisors LP grew its position in Comcast by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 29,461,308 shares of the cable giant's stock valued at $845,919,000 after buying an additional 507,097 shares in the last quarter. First Trust Advisors LP grew its position in Comcast by 4.9% in the 1st quarter. First Trust Advisors LP now owns 13,592,149 shares of the cable giant's stock valued at $390,231,000 after buying an additional 630,902 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Comcast by 824.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock valued at $333,509,000 after buying an additional 10,359,800 shares during the period. Finally, Swiss National Bank increased its stake in Comcast by 5.7% during the 1st quarter. Swiss National Bank now owns 10,666,200 shares of the cable giant's stock valued at $306,227,000 after buying an additional 574,300 shares during the period. 84.32% of the stock is owned by institutional investors.

Comcast Company Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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