Loop Capital Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Key Points

• Loop Capital has downgraded Comcast's price target from $50.00 to $44.00, indicating a potential upside of 40.15% from its previous closing price.
• Despite the price target reduction, Comcast maintains a "buy" rating, with a majority of analysts rating the stock as "buy" or "hold."
• Comcast's recent earnings report showed a profit of $1.25 per share, surpassing analyst expectations and reflecting a 2.1% year-over-year revenue increase.

Comcast (NASDAQ:CMCSA - Get Free Report) had its price objective dropped by investment analysts at Loop Capital from $50.00 to $44.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has a "buy" rating on the cable giant's stock. Loop Capital's price target would suggest a potential upside of 39.73% from the stock's previous close.

CMCSA has been the subject of a number of other reports. Sanford C. Bernstein lowered their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating for the company in a report on Wednesday, September 10th. Arete Research upgraded shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Scotiabank boosted their target price on shares of Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Finally, Moffett Nathanson boosted their target price on shares of Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, September 12th. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.22.

Comcast Trading Down 0.3%

Shares of NASDAQ CMCSA traded down $0.10 during midday trading on Monday, reaching $31.49. 36,351,866 shares of the stock were exchanged, compared to its average volume of 22,130,610. The company has a market capitalization of $116.27 billion, a P/E ratio of 5.20, a P/E/G ratio of 1.89 and a beta of 0.93. Comcast has a 52-week low of $31.03 and a 52-week high of $45.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $33.37 and a 200-day moving average price of $34.41.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 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 the consensus estimate of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. Equities research analysts expect that Comcast will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Inlight Wealth Management LLC acquired a new position in shares of Comcast during the first quarter worth $26,000. Global Trust Asset Management LLC raised its holdings in Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after acquiring an additional 671 shares in the last quarter. Cranbrook Wealth Management LLC raised its holdings in Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after acquiring an additional 350 shares in the last quarter. Avalon Trust Co raised its holdings in Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant's stock valued at $27,000 after acquiring an additional 624 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Comcast in the first quarter valued at $29,000. 84.32% of the stock is owned by institutional investors and hedge funds.

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.