Comcast (NASDAQ:CMCSA) Price Target Cut to $36.00 by Analysts at Bank of America

Key Points

• Bank of America has lowered its target price for Comcast from $38.00 to $36.00, maintaining a "neutral" rating on the stock, which indicates a potential upside of 13.91%.
• Several analysts have downgraded their price targets for Comcast, with Morgan Stanley reducing it to $38.00 and UBS Group setting it at $36.00.
• Comcast's latest quarterly earnings showed a revenue increase of 2.1% year-over-year, with earnings per share of $1.25, surpassing analysts' expectations.

Comcast (NASDAQ:CMCSA - Get Free Report) had its target price cut by investment analysts at Bank of America from $38.00 to $36.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the cable giant's stock. Bank of America's price target would indicate a potential upside of 13.91% from the stock's current price.

Several other research analysts have also weighed in on CMCSA. Morgan Stanley lowered their target price on shares of Comcast from $40.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, August 4th. Arete Research raised shares of Comcast to a "hold" rating in a report on Tuesday, July 8th. Citigroup reaffirmed a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Royal Bank Of Canada assumed coverage on shares of Comcast in a report on Monday, September 8th. They set a "sector perform" rating and a $38.00 price objective on the stock. Finally, UBS Group reduced their price objective on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus price target of $40.11.

Comcast Stock Performance

Shares of CMCSA traded down $0.12 during trading hours on Monday, hitting $31.61. The stock had a trading volume of 2,084,247 shares, compared to its average volume of 24,051,141. 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 has a 50-day moving average price of $33.13 and a 200 day moving average price of $34.31. Comcast has a fifty-two week low of $31.03 and a fifty-two week high of $45.31. The firm has a market capitalization of $116.69 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 1.90 and a beta of 0.93.

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

Hedge Funds Weigh In On Comcast

Institutional investors have recently bought and sold shares of the company. Capital A Wealth Management LLC increased its stake in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant's stock valued at $25,000 after buying an additional 436 shares during the period. Inlight Wealth Management LLC acquired a new position in Comcast in the 1st quarter valued at $26,000. Cranbrook Wealth Management LLC grew its stake in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock worth $27,000 after purchasing an additional 350 shares during the period. Global Trust Asset Management LLC grew its stake in shares of Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after purchasing an additional 671 shares during the period. Finally, Avalon Trust Co grew its stake in shares of Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant's stock worth $27,000 after purchasing an additional 624 shares during the period. 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.

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