Rosenblatt Securities Cuts Comcast (NASDAQ:CMCSA) Price Target to $24.00

Comcast (NASDAQ:CMCSA) had its price objective lowered by stock analysts at Rosenblatt Securities from $30.00 to $24.00 in a research note issued on Friday,MarketScreener reports. The brokerage currently has a “neutral” rating on the cable giant’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 2.09% from the stock’s current price.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lowered Comcast from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a research report on Friday, April 24th. Citigroup upped their price objective on shares of Comcast from $33.00 to $35.50 and gave the stock a “buy” rating in a research report on Friday, April 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Comcast in a report on Thursday, April 23rd. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Wall Street Zen raised shares of Comcast to a “hold” rating in a research note on Saturday, March 14th. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.56.

Comcast Price Performance

Shares of Comcast stock traded up $0.18 on Friday, hitting $23.51. The company’s stock had a trading volume of 5,737,479 shares, compared to its average volume of 32,928,617. The company has a market capitalization of $83.98 billion, a price-to-earnings ratio of 4.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.67. Comcast has a 1 year low of $23.13 and a 1 year high of $36.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average price of $26.87 and a 200-day moving average price of $28.45.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. As a group, sell-side analysts anticipate that Comcast will post 3.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comcast

A number of large investors have recently modified their holdings of CMCSA. Brighton Jones LLC lifted its stake in Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock worth $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. grew its position in shares of Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after purchasing an additional 2,593 shares in the last quarter. United Bank increased its holdings in shares of Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after purchasing an additional 4,290 shares during the last quarter. HUB Investment Partners LLC increased its holdings in shares of Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after purchasing an additional 9,236 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in Comcast by 66.8% during the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock worth $1,414,000 after buying an additional 15,865 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.