Comcast (NASDAQ:CMCSA) Given New $43.00 Price Target at Loop Capital

Key Points

• Loop Capital has reduced its price target for Comcast from $44.00 to $43.00, maintaining a "buy" rating, suggesting a potential upside of 36.86% from the current stock price.
• Other brokerage firms, including Goldman Sachs and Bank of America, have also lowered their price targets for Comcast, reflecting a more cautious outlook on the stock.
• Comcast's stock currently has an average rating of "Hold" and a consensus target price of $40.07, according to data from MarketBeat.

Comcast (NASDAQ:CMCSA - Get Free Report) had its price objective cut by investment analysts at Loop Capital from $44.00 to $43.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a "buy" rating on the cable giant's stock. Loop Capital's target price would suggest a potential upside of 36.86% from the stock's current price.

A number of other equities analysts have also recently issued reports on CMCSA. The Goldman Sachs Group cut their price target on Comcast from $40.00 to $39.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. Bank of America cut their price objective on shares of Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday. Royal Bank Of Canada assumed coverage on shares of Comcast in a research report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price target for the company. Sanford C. Bernstein dropped their price objective on Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a research note on Wednesday, September 10th. Finally, Morgan Stanley dropped their price objective on Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Comcast presently has an average rating of "Hold" and a consensus target price of $40.07.

Comcast Stock Performance

NASDAQ CMCSA opened at $31.42 on Wednesday. Comcast has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The stock has a market cap of $116.01 billion, a PE ratio of 5.19, a PEG ratio of 1.89 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The firm's fifty day moving average price is $32.98 and its two-hundred day moving average price is $34.26.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. On average, equities analysts expect that Comcast will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Comcast

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant's stock valued at $13,185,275,000 after acquiring an additional 1,257,196 shares in the last quarter. State Street Corp grew its position in Comcast by 2.5% during the 2nd quarter. State Street Corp now owns 172,769,800 shares of the cable giant's stock worth $6,166,154,000 after purchasing an additional 4,231,140 shares during the period. Dodge & Cox boosted its holdings in Comcast by 18.1% during the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant's stock worth $3,971,309,000 after buying an additional 17,054,579 shares in the last quarter. Norges Bank acquired a new position in shares of Comcast during the 2nd quarter worth approximately $3,528,361,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Comcast by 7.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,154,170 shares of the cable giant's stock worth $1,289,984,000 after purchasing an additional 2,517,906 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

About Comcast

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.

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