The Goldman Sachs Group Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Key Points

• The Goldman Sachs Group has lowered its price target for Comcast's stock from $40.00 to $39.00, maintaining a "buy" rating despite the downgrade.
• Other analysts have also reduced their target prices, with Rothschild & Co Redburn setting a new target of $35.00 and Barclays lowering theirs to $34.00.
• Comcast reported strong quarterly earnings, with a net margin of 18.44% and revenue growth of 2.1% year-over-year, outperforming analysts' expectations.

Comcast (NASDAQ:CMCSA - Get Free Report) had its price target dropped by analysts at The Goldman Sachs Group from $40.00 to $39.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has a "buy" rating on the cable giant's stock. The Goldman Sachs Group's price target indicates a potential upside of 23.34% from the stock's current price.

Other research analysts have also issued reports about the company. Rothschild & Co Redburn decreased their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Benchmark reissued a "buy" rating on shares of Comcast in a research report on Friday, July 18th. Citigroup reissued a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Barclays decreased their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Sanford C. Bernstein dropped their target price on shares of Comcast from $37.00 to $36.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.19.

Comcast Trading Up 0.4%

Shares of CMCSA stock opened at $31.62 on Wednesday. Comcast has a twelve month low of $31.03 and a twelve month high of $45.31. The stock has a market cap of $116.75 billion, a price-to-earnings ratio of 5.23, a PEG ratio of 1.89 and a beta of 0.93. The company's 50-day moving average price is $33.31 and its 200-day moving average price is $34.39. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The business 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 business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. As a group, equities analysts predict that Comcast will post 4.33 earnings per share for the current year.

Hedge Funds Weigh In On Comcast

Institutional investors and hedge funds have recently modified their holdings of the company. Inlight Wealth Management LLC acquired a new position in Comcast in the first quarter valued at $26,000. Cranbrook Wealth Management LLC grew its stake in shares of Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant's stock valued at $27,000 after buying an additional 350 shares in the last quarter. Global Trust Asset Management LLC boosted its holdings in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant's stock worth $27,000 after acquiring an additional 671 shares during the period. Avalon Trust Co boosted its stake in shares of Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant's stock valued at $27,000 after purchasing an additional 624 shares during the period. Finally, Abound Financial LLC purchased a new stake in Comcast during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 84.32% of the company's stock.

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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