Citigroup Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA - Get Free Report) had its price target cut by equities research analysts at Citigroup from $44.00 to $39.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the cable giant's stock. Citigroup's price target would suggest a potential upside of 15.42% from the stock's current price.

A number of other equities analysts also recently issued reports on the company. UBS Group lowered their price objective on Comcast from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company downgraded shares of Comcast from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $37.00 to $31.00 in a research report on Monday, April 14th. The Goldman Sachs Group decreased their price objective on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Comcast from $45.00 to $39.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Finally, Sanford C. Bernstein set a $38.00 price target on shares of Comcast in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.10.

Comcast Price Performance

Shares of NASDAQ CMCSA traded down $0.15 during midday trading on Friday, reaching $33.79. 8,264,013 shares of the company were exchanged, compared to its average volume of 21,822,613. Comcast has a one year low of $31.44 and a one year high of $45.31. The stock has a market cap of $127.76 billion, a P/E ratio of 8.14, a PEG ratio of 1.78 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. The stock's 50-day moving average price is $35.25 and its 200-day moving average price is $37.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. The firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same period last year, the firm posted $1.04 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Comcast will post 4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comcast

Several large investors have recently modified their holdings of the business. Van Cleef Asset Management Inc grew its stake in Comcast by 61.5% in the 1st quarter. Van Cleef Asset Management Inc now owns 462,255 shares of the cable giant's stock valued at $17,057,000 after buying an additional 176,069 shares in the last quarter. Topsail Wealth Management LLC bought a new stake in shares of Comcast during the 1st quarter valued at $293,000. Cornerstone Planning Group LLC lifted its holdings in Comcast by 544.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 6,318 shares of the cable giant's stock worth $218,000 after purchasing an additional 5,337 shares in the last quarter. Flossbach Von Storch SE bought a new position in Comcast in the 1st quarter worth about $251,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Comcast by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,003,389 shares of the cable giant's stock valued at $143,254,000 after buying an additional 37,903 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

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.