Rosenblatt Securities Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price objective decreased by investment analysts at Rosenblatt Securities from $45.00 to $36.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the cable giant’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 7.30% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Macquarie lowered their target price on shares of Comcast from $42.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. BNP Paribas raised Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 target price on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their price target on Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Citigroup reduced their price objective on shares of Comcast from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.13.

Comcast Price Performance

NASDAQ CMCSA opened at $33.55 on Monday. The stock has a market capitalization of $128.38 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 1.23 and a beta of 1.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.72. The business’s fifty day moving average price is $38.41 and its 200-day moving average price is $40.02. Comcast has a 1-year low of $32.50 and a 1-year high of $45.38.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, equities analysts predict that Comcast will post 4.4 earnings per share for the current year.

Insider Activity

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now directly owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CMCSA. World Investment Advisors LLC increased its holdings in Comcast by 904.0% in the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock worth $10,632,000 after buying an additional 229,192 shares during the period. Tidal Investments LLC raised its holdings in shares of Comcast by 15.2% during the third quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock worth $7,161,000 after purchasing an additional 22,684 shares during the last quarter. Parnassus Investments LLC lifted its position in Comcast by 3.7% during the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares during the period. Douglas Lane & Associates LLC boosted its holdings in Comcast by 0.7% in the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after purchasing an additional 15,807 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Comcast during the 3rd quarter worth about $2,541,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.