Royal Bank Of Canada Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its target price reduced by investment analysts at Royal Bank Of Canada from $32.00 to $27.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the cable giant’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 13.18% from the company’s previous close.

Other analysts have also recently issued reports about the stock. KeyCorp reiterated a “sector weight” rating on shares of Comcast in a research note on Thursday, April 23rd. Evercore increased their price objective on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citigroup dropped their price objective on Comcast from $35.50 to $32.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Monday, July 6th. Finally, The Goldman Sachs Group lowered their price target on Comcast from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.45.

Comcast Stock Performance

Shares of NASDAQ:CMCSA traded up $0.07 during midday trading on Monday, reaching $23.86. 9,092,705 shares of the company traded hands, compared to its average volume of 34,283,090. The firm’s fifty day moving average price is $24.00 and its two-hundred day moving average price is $27.48. The firm has a market capitalization of $85.22 billion, a price-to-earnings ratio of 4.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast has a 12 month low of $22.13 and a 12 month high of $36.01.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Comcast will post 3.48 earnings per share for the current year.

Hedge Funds Weigh In On Comcast

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Imprint Wealth LLC purchased a new position in shares of Comcast during the 3rd quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Comcast during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC lifted its holdings in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after acquiring an additional 401 shares during the last quarter. Main Street Group LTD purchased a new stake in shares of Comcast in the 1st quarter valued at $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Comcast during the 4th quarter valued at $29,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

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.