Comcast (NASDAQ:CMCSA) Stock Price Down 1.7% After Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA - Get Free Report)'s stock price dropped 1.7% during trading on Tuesday after Citigroup lowered their price target on the stock from $53.00 to $48.00. Citigroup currently has a buy rating on the stock. Comcast traded as low as $37.84 and last traded at $38.20. Approximately 3,353,687 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 20,666,600 shares. The stock had previously closed at $38.85.

Other equities research analysts have also issued research reports about the company. Redburn Atlantic lowered Comcast from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Wells Fargo & Company lowered their target price on shares of Comcast from $47.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Friday. Oppenheimer restated an "outperform" rating and set a $55.00 price target on shares of Comcast in a research report on Wednesday, April 3rd. Benchmark reissued a "buy" rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Comcast currently has an average rating of "Moderate Buy" and an average target price of $49.60.

Institutional Investors Weigh In On Comcast

Institutional investors and hedge funds have recently made changes to their positions in the company. Brookstone Capital Management grew its position in Comcast by 8.4% in the 3rd quarter. Brookstone Capital Management now owns 148,778 shares of the cable giant's stock worth $6,408,000 after purchasing an additional 11,489 shares during the period. Corundum Trust Company INC purchased a new position in shares of Comcast in the third quarter worth approximately $210,000. Edmp Inc. grew its position in Comcast by 7.1% during the third quarter. Edmp Inc. now owns 24,187 shares of the cable giant's stock valued at $1,072,000 after buying an additional 1,612 shares during the period. Accurate Wealth Management LLC raised its position in Comcast by 17.9% in the third quarter. Accurate Wealth Management LLC now owns 14,466 shares of the cable giant's stock worth $642,000 after acquiring an additional 2,193 shares during the period. Finally, Vicus Capital boosted its stake in shares of Comcast by 133.4% during the 3rd quarter. Vicus Capital now owns 14,001 shares of the cable giant's stock worth $621,000 after acquiring an additional 8,002 shares during the last quarter. Institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

The stock has a market cap of $151.37 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.95 and a beta of 0.98. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The business's 50-day moving average price is $41.47 and its 200-day moving average price is $42.47.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 earnings per share. As a group, sell-side analysts expect that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

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.