Comcast (NASDAQ:CMCSA) Price Target Cut to $33.00 by Analysts at Rosenblatt Securities

Key Points

• Analysts at Rosenblatt Securities have reduced Comcast's price target from $38.00 to $33.00, maintaining a "neutral" rating on the stock, indicating a potential upside of 12.78% from its previous close.
• Overall, Comcast's stock has mixed ratings from analysts, with one Strong Buy, twelve Buy, fourteen Hold, and three Sell ratings, resulting in an average rating of "Hold" and an average target price of $39.76.
• As of the last report, Comcast shares are trading at $29.26, reflecting a market capitalization of $108.03 billion, and are experiencing significant investor activity with notable stakes taken by major institutional investors like Vanguard Group and Dodge & Cox.

Comcast (NASDAQ:CMCSA - Get Free Report) had its target price decreased by investment analysts at Rosenblatt Securities from $38.00 to $33.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the cable giant's stock. Rosenblatt Securities' target price would indicate a potential upside of 12.78% from the company's previous close.

Other equities analysts have also recently issued reports about the company. UBS Group set a $43.00 target price on Comcast in a report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on Comcast from $46.00 to $44.00 and set a "buy" rating for the company in a research report on Monday, October 6th. Barclays lowered their price objective on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Bank of America lowered their price objective on Comcast from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, September 29th. Finally, Moffett Nathanson upped their target price on Comcast from $56.00 to $58.00 and gave the company a "buy" rating in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $39.76.

Comcast Price Performance

Shares of CMCSA opened at $29.26 on Friday. The company has a market cap of $108.03 billion, a price-to-earnings ratio of 4.84, a PEG ratio of 1.76 and a beta of 0.94. Comcast has a 1-year low of $29.15 and a 1-year high of $45.31. The company's fifty day simple moving average is $32.27 and its 200 day simple moving average is $33.74. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $30.34 billion during the quarter. Comcast had a net margin of 18.44% and a return on equity of 18.86%. On average, research analysts forecast that Comcast will post 4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comcast

A number of large investors have recently made changes to their positions in CMCSA. Vanguard Group Inc. raised its position in shares of Comcast by 0.3% in the second quarter. Vanguard Group Inc. now owns 369,438,921 shares of the cable giant's stock worth $13,185,275,000 after acquiring an additional 1,257,196 shares during the period. State Street Corp increased its stake in shares of Comcast by 2.5% during the second 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 in the last quarter. Dodge & Cox increased its stake in shares of 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 purchasing an additional 17,054,579 shares in the last quarter. Norges Bank purchased a new stake in shares of Comcast during the second quarter worth about $3,528,361,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Comcast by 7.5% during the second 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 in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.

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