Comcast (NASDAQ:CMCSA) Price Target Raised to $37.00

Key Points

• An investment analysis report from Rosenblatt Securities raised Comcast's price target from $36.00 to $37.00, indicating a potential upside of 9.86% based on the stock's previous close.
• Comcast reported earnings of $1.09 per share for the last quarter, exceeding analysts' estimates of $1.01 and generating revenue of $29.89 billion, slightly above forecasts.
• The stock's consensus rating is currently a "Hold" with a price target average of $41.13, reflecting a mix of analyst ratings ranging from sell to strong buy.

Comcast (NASDAQ:CMCSA - Get Free Report) had its price objective increased by investment analysts at Rosenblatt Securities from $36.00 to $37.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the cable giant's stock. Rosenblatt Securities' price objective indicates a potential upside of 9.86% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Comcast from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. New Street Research lowered their price target on Comcast from $44.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Morgan Stanley lifted their price objective on Comcast from $37.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. BNP Paribas Exane dropped their target price on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Finally, Argus downgraded Comcast from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Comcast presently has a consensus rating of "Hold" and a consensus price target of $41.13.

Comcast Stock Performance

CMCSA traded down $1.69 during trading on Friday, reaching $33.68. The company's stock had a trading volume of 32,684,509 shares, compared to its average volume of 24,280,133. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.65 and a current ratio of 0.65. The company's fifty day moving average price is $35.04 and its 200-day moving average price is $35.27. Comcast has a 52-week low of $31.44 and a 52-week high of $45.31. The company has a market capitalization of $125.75 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.74 and a beta of 0.95.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a net margin of 12.72% and a return on equity of 19.70%. The business's revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 EPS. On average, equities analysts forecast that Comcast will post 4.33 earnings per share for the current fiscal year.

Institutional Trading of Comcast

Large investors have recently modified their holdings of the company. Inlight Wealth Management LLC acquired a new position in shares of Comcast during the first quarter worth approximately $26,000. Global Trust Asset Management LLC raised its stake in Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock valued at $27,000 after purchasing an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC boosted its holdings in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after purchasing an additional 350 shares during the period. Ransom Advisory Ltd acquired a new stake in Comcast in the 1st quarter worth $29,000. Finally, Abound Financial LLC bought a new position in shares of Comcast during the 1st quarter worth about $29,000. 84.32% of the stock is owned by 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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