Sanford C. Bernstein Cuts Comcast (NASDAQ:CMCSA) Price Target to $36.00

Key Points

• Sanford C. Bernstein has lowered Comcast's price target from $37.00 to $36.00, maintaining a "market perform" rating, which suggests an 8.74% potential upside from its previous close.
• Comcast shares have recently seen a decline of 1.7%, trading at $33.11 after the announcement, with an average market cap of $122.23 billion.
• Analysts have mixed views on Comcast, with 1 "Strong Buy," 12 "Buy," 13 "Hold," and 3 "Sell" ratings, leading to a consensus price target of $40.56.

Comcast (NASDAQ:CMCSA - Get Free Report) had its price objective lowered by stock analysts at Sanford C. Bernstein from $37.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "market perform" rating on the cable giant's stock. Sanford C. Bernstein's price objective indicates a potential upside of 8.74% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Arete Research raised Comcast to a "hold" rating in a research note on Tuesday, July 8th. Scotiabank increased their price objective on Comcast from $44.50 to $45.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Citigroup reissued a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. Finally, Benchmark reissued a "buy" rating on shares of Comcast in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $40.56.

Comcast Stock Down 1.7%

Shares of CMCSA stock traded down $0.57 on Wednesday, reaching $33.11. 9,514,589 shares of the company were exchanged, compared to its average volume of 23,959,822. The company has a market cap of $122.23 billion, a price-to-earnings ratio of 5.47, a PEG ratio of 2.04 and a beta of 0.93. The company has a 50-day moving average of $33.94 and a 200-day moving average of $34.64. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. Comcast has a one year low of $31.03 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. The company had revenue of $30.31 billion for 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 business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Analysts anticipate that Comcast will post 4.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor OS LLC lifted its stake in Comcast by 33.2% in the first quarter. Advisor OS LLC now owns 35,440 shares of the cable giant's stock valued at $1,308,000 after purchasing an additional 8,841 shares during the last quarter. Resona Asset Management Co. Ltd. raised its position in shares of Comcast by 10.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 1,282,073 shares of the cable giant's stock valued at $47,254,000 after purchasing an additional 118,839 shares during the period. OMNI 360 Wealth Inc. bought a new stake in shares of Comcast in the first quarter valued at approximately $335,000. DAVENPORT & Co LLC raised its position in shares of Comcast by 41.7% in the first quarter. DAVENPORT & Co LLC now owns 4,282,833 shares of the cable giant's stock valued at $157,766,000 after purchasing an additional 1,261,278 shares during the period. Finally, American Financial Group Inc. raised its position in shares of Comcast by 29.0% in the first quarter. American Financial Group Inc. now owns 267,000 shares of the cable giant's stock valued at $9,852,000 after purchasing an additional 60,000 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

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.

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