Royal Bank Of Canada Cuts Comcast (NASDAQ:CMCSA) Price Target to $27.00

Key Points

• Royal Bank of Canada cut Comcast’s price target from $32 to $27 while keeping a sector perform rating. The new target still implies about 13% upside from the stock’s current price.
• Analyst sentiment on Comcast remains mixed overall, with the stock holding a consensus Hold rating and an average price target of $33.45. Across the latest reports, 11 analysts rate it a Buy, 14 a Hold, and 3 a Sell.
• Comcast shares were up slightly to $23.86 on Monday, while the company recently reported better-than-expected quarterly results with EPS of $0.79 and revenue of $31.46 billion, both above estimates.

Comcast (NASDAQ:CMCSA - Get Free Report) had its price target decreased by research analysts at Royal Bank Of Canada from $32.00 to $27.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "sector perform" rating on the cable giant's stock. Royal Bank Of Canada's target price points to a potential upside of 13.18% from the company's current price.

Several other analysts also recently issued reports on the stock. Evercore lifted their price target on shares of Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Moffett Nathanson dropped their price objective on shares of Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, June 16th. Freedom Capital upgraded shares of Comcast to a "hold" rating in a report on Friday, June 12th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Comcast in a research report on Monday, July 6th. Finally, New Street Research decreased their price objective on Comcast from $31.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, June 25th. Eleven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $33.45.

Comcast Stock Up 0.3%

NASDAQ CMCSA traded up $0.07 on Monday, hitting $23.86. 9,092,705 shares of the company were exchanged, compared to its average volume of 34,283,090. Comcast has a 12 month low of $22.13 and a 12 month high of $36.01. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The company has a market cap of $85.22 billion, a PE ratio of 4.69, a PEG ratio of 1.96 and a beta of 0.67. The stock has a fifty day moving average of $24.00 and a 200-day moving average of $27.48.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. The firm had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, analysts forecast that Comcast will post 3.48 earnings per share for the current year.

Institutional Trading of Comcast

A number of large investors have recently added to or reduced their stakes in the stock. Allied Private Wealth LLC bought a new stake in shares of Comcast in the 2nd quarter worth approximately $26,000. Imprint Wealth LLC purchased a new stake in Comcast in the third quarter worth $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast in the fourth quarter valued at $27,000. Whipplewood Advisors LLC raised its stake in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock valued at $27,000 after buying an additional 401 shares during the period. Finally, Main Street Group LTD purchased a new position in shares of Comcast during the 1st quarter valued at $27,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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