Comcast (NASDAQ:CMCSA) Stock Keeps Buy Rating at Rosenblatt Securities

Key Points

• Rosenblatt Securities reiterated its “Buy” rating on Comcast and maintained a $31 price target, implying approximately 41.55% upside from the reported $21.90 share price.
• Analyst sentiment remains mixed: Comcast has a consensus rating of “Hold” with an average target price of $30.81, based on 11 Buy, 13 Hold, and 5 Sell ratings.
• Comcast beat quarterly expectations with EPS of $1.04 versus $0.97 forecast and revenue of $29.94 billion, though revenue declined 1.2% year over year; institutional investors own 84.32% of its stock.

Comcast (NASDAQ:CMCSA - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Rosenblatt Securities in a report released on Monday, Benzinga reports. They presently have a $31.00 target price on the cable giant's stock. Rosenblatt Securities' price target indicates a potential upside of 41.55% from the company's current price.

A number of other research firms have also issued reports on CMCSA. Scotiabank reduced their target price on shares of Comcast from $29.00 to $27.50 and set a "sector perform" rating on the stock in a report on Friday, October 2nd. BNP Paribas Exane lowered their price target on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, July 14th. Wells Fargo & Company set a $23.00 price objective on shares of Comcast and gave the company an "underweight" rating in a research report on Friday, July 24th. The Goldman Sachs Group cut their price objective on shares of Comcast from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. Finally, Weiss Ratings downgraded shares of Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $30.81.

Comcast Stock Performance

Comcast stock opened at $21.90 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $24.14 and a two-hundred day moving average of $24.81. The company has a market capitalization of $77.72 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 1.57 and a beta of 0.68. Comcast has a fifty-two week low of $20.48 and a fifty-two week high of $32.85.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion for the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%. The business's revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 earnings per share. On average, analysts anticipate that Comcast will post 3.49 EPS for the current fiscal year.

Institutional Trading of Comcast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Grant Private Wealth Management Inc raised its stake in Comcast by 67.8% during the third quarter. Grant Private Wealth Management Inc now owns 28,398 shares of the cable giant's stock worth $618,000 after acquiring an additional 11,475 shares during the period. SteelPeak Wealth LLC raised its position in shares of Comcast by 113.0% during the 3rd quarter. SteelPeak Wealth LLC now owns 22,495 shares of the cable giant's stock worth $489,000 after purchasing an additional 11,935 shares during the period. IFP Advisors Inc raised its position in shares of Comcast by 171.8% during the 3rd quarter. IFP Advisors Inc now owns 210,360 shares of the cable giant's stock worth $4,577,000 after purchasing an additional 132,967 shares during the period. Center For Asset Management LLC lifted its holdings in shares of Comcast by 5.3% in the 3rd quarter. Center For Asset Management LLC now owns 17,759 shares of the cable giant's stock worth $386,000 after purchasing an additional 891 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in Comcast by 76.7% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 39,635 shares of the cable giant's stock valued at $862,000 after purchasing an additional 17,204 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

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.