Comcast (NASDAQ:CMCSA) Given New $40.00 Price Target at Macquarie

Comcast (NASDAQ:CMCSAFree Report) had its target price reduced by Macquarie from $43.00 to $40.00 in a report published on Monday morning, Benzinga reports. Macquarie currently has a neutral rating on the cable giant’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Comcast from a strong-buy rating to a buy rating in a report on Friday, March 22nd. Wells Fargo & Company decreased their price target 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, April 26th. Benchmark restated a buy rating and issued a $55.00 price objective on shares of Comcast in a report on Monday. Evercore ISI reaffirmed an outperform rating and set a $50.00 target price on shares of Comcast in a report on Tuesday, March 26th. Finally, Citigroup lowered their price target on shares of Comcast from $53.00 to $48.00 and set a buy rating for the company in a research note on Monday, April 29th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $49.33.

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Comcast Trading Up 1.0 %

Shares of CMCSA opened at $39.70 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. Comcast has a 1-year low of $36.43 and a 1-year high of $47.46. The company has a market capitalization of $155.77 billion, a P/E ratio of 10.50, a P/E/G ratio of 0.98 and a beta of 0.99. The firm’s 50 day simple moving average is $40.85 and its 200 day simple moving average is $42.20.

Comcast (NASDAQ:CMCSAGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The company had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. Sell-side analysts forecast that Comcast will post 4.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comcast

Hedge funds have recently made changes to their positions in the company. Wealthspire Advisors LLC increased its position in shares of Comcast by 4.8% during the fourth quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock valued at $2,659,000 after acquiring an additional 2,781 shares in the last quarter. Everett Harris & Co. CA lifted its stake in shares of Comcast by 7.7% during the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock valued at $73,993,000 after buying an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its position in shares of Comcast by 1.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after acquiring an additional 1,486 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in Comcast by 10.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock worth $5,065,000 after purchasing an additional 10,936 shares during the period. Finally, Altus Wealth Group LLC grew its stake in Comcast by 8.3% during the fourth quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock valued at $823,000 after acquiring an additional 1,432 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Company Profile

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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.

Further Reading

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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