Comcast (NASDAQ:CMCSA) Price Target Lowered to $53.00 at Loop Capital

Comcast (NASDAQ:CMCSA) had its price objective reduced by analysts at Loop Capital from $54.00 to $53.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the cable giant’s stock. Loop Capital’s price target would indicate a potential upside of 39.99% from the company’s current price.

CMCSA has been the subject of several other reports. TD Cowen lowered their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, November 6th. Seaport Res Ptn upgraded shares of Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company increased their target price on shares of Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley cut Comcast from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $45.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.39.

Comcast Trading Up 0.9 %

CMCSA stock traded up $0.33 during mid-day trading on Thursday, reaching $37.86. 9,890,667 shares of the stock traded hands, compared to its average volume of 19,704,725. Comcast has a one year low of $36.43 and a one year high of $47.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The business has a 50-day moving average price of $41.41 and a two-hundred day moving average price of $40.27. The stock has a market capitalization of $144.87 billion, a PE ratio of 10.18, a PEG ratio of 1.50 and a beta of 0.99.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. Equities research analysts expect that Comcast will post 4.26 EPS for the current year.

Insider Transactions at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction 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 sale, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following 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 position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Comcast

Hedge funds have recently modified their holdings of the business. Fairscale Capital LLC acquired a new stake in shares of Comcast during the second quarter worth $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Comcast in the 3rd quarter valued at about $30,000. McClarren Financial Advisors Inc. increased its holdings in Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 570 shares in the last quarter. Iron Horse Wealth Management LLC raised its position in Comcast by 220.3% during the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock worth $32,000 after acquiring an additional 522 shares during the last quarter. Finally, Archer Investment Corp lifted its holdings in shares of Comcast by 177.1% in the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

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.