Moffett Nathanson Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Key Points

• Moffett Nathanson cut Comcast’s price target from $52 to $43 but maintained a “buy” rating, implying approximately 90.7% upside from the stock’s $22.55 price.
• Analyst sentiment is mixed: Comcast has 11 buy, 13 hold, and 4 sell ratings, with an average rating of “Hold” and a consensus price target of $32.17.
• Comcast exceeded quarterly earnings and revenue expectations, reporting $1.04 in EPS and $29.94 billion in revenue, though revenue declined 1.2% year over year.

Comcast (NASDAQ:CMCSA - Get Free Report) had its price objective decreased by stock analysts at Moffett Nathanson from $52.00 to $43.00 in a report released on Tuesday. The brokerage currently has a "buy" rating on the cable giant's stock. Moffett Nathanson's price target points to a potential upside of 90.69% from the company's current price.

A number of other equities research analysts have also recently commented on CMCSA. Citigroup reduced their target price on shares of Comcast from $30.00 to $27.50 and set a "buy" rating for the company in a report on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $31.00 price objective on shares of Comcast in a research note on Friday, July 24th. Freedom Capital upgraded shares of Comcast to a "hold" rating in a research note on Friday, June 12th. Weiss Ratings lowered shares of Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group lowered their price objective on Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $32.17.

Comcast Trading Up 0.6%

NASDAQ CMCSA opened at $22.55 on Tuesday. Comcast has a one year low of $21.28 and a one year high of $32.85. The firm has a 50 day simple moving average of $24.99 and a 200-day simple moving average of $25.80. The firm has a market cap of $80.02 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 1.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The business had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company's revenue was down 1.2% on a year-over-year basis. Equities research analysts anticipate that Comcast will post 3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Comcast

Institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its stake in Comcast by 42.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 153,399 shares of the cable giant's stock valued at $3,766,000 after purchasing an additional 45,380 shares in the last quarter. Andra AP fonden grew its holdings in Comcast by 695.9% in the second quarter. Andra AP fonden now owns 378,218 shares of the cable giant's stock valued at $9,285,000 after purchasing an additional 330,700 shares during the last quarter. Security National Bank of Sioux City Iowa IA increased its position in shares of Comcast by 39.4% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 64,290 shares of the cable giant's stock valued at $1,578,000 after buying an additional 18,170 shares in the last quarter. Anchor Investment Management LLC boosted its position in shares of Comcast by 16.9% in the 2nd quarter. Anchor Investment Management LLC now owns 64,149 shares of the cable giant's stock worth $1,593,000 after buying an additional 9,288 shares in the last quarter. Finally, Talon Private Wealth LLC acquired a new stake in Comcast in the 2nd quarter valued at about $274,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.