Comcast (NASDAQ:CMCSA) Price Target Cut to $43.00 by Analysts at Wells Fargo & Company

Comcast (NASDAQ:CMCSA) had its price target lowered by Wells Fargo & Company from $47.00 to $43.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the cable giant’s stock.

Several other research analysts also recently weighed in on CMCSA. Oppenheimer restated an outperform rating and issued a $55.00 target price on shares of Comcast in a research note on Wednesday, April 3rd. Citigroup raised their target price on Comcast from $51.00 to $53.00 and gave the company a buy rating in a research note on Tuesday, January 30th. BNP Paribas reissued a neutral rating and issued a $45.00 price target on shares of Comcast in a report on Tuesday, April 9th. Rosenblatt Securities restated a neutral rating and set a $45.00 price objective on shares of Comcast in a report on Friday. Finally, StockNews.com cut Comcast from a strong-buy rating to a buy rating in a research note on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Comcast currently has a consensus rating of Moderate Buy and an average price target of $49.60.

Comcast Stock Up 0.7 %

Shares of Comcast stock opened at $38.85 on Friday. The company has a fifty day moving average price of $41.54 and a 200 day moving average price of $42.51. The stock has a market cap of $154.31 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. Comcast has a twelve month low of $36.43 and a twelve month high of $47.46. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to analyst estimates of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 earnings per share. Equities research analysts forecast that Comcast will post 4.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comcast

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in Comcast by 18.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,063,878 shares of the cable giant’s stock worth $89,469,000 after purchasing an additional 322,450 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Comcast by 0.6% during the first quarter. Commonwealth Equity Services LLC now owns 974,173 shares of the cable giant’s stock valued at $42,230,000 after buying an additional 5,740 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Comcast by 11.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 109,740 shares of the cable giant’s stock worth $4,757,000 after buying an additional 11,109 shares during the period. Lederer & Associates Investment Counsel CA grew its holdings in Comcast by 5.5% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 23,009 shares of the cable giant’s stock worth $997,000 after buying an additional 1,205 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC raised its stake in Comcast by 27.9% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 9,099 shares of the cable giant’s stock valued at $394,000 after acquiring an additional 1,986 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

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.