Comcast (NASDAQ:CMCSA) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Comcast (NASDAQ:CMCSAGet Free Report) had its price objective raised by equities research analysts at Royal Bank Of Canada from $31.00 to $32.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage currently has a “sector perform” rating on the cable giant’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 8.65% from the company’s current price.

CMCSA has been the topic of several other reports. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Evercore lifted their price target on shares of Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen reduced their price target on shares of Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft cut shares of Comcast from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Friday. Finally, Sanford C. Bernstein decreased their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Comcast currently has an average rating of “Hold” and a consensus price target of $35.13.

Get Our Latest Research Report on CMCSA

Comcast Trading Down 6.9%

Comcast stock traded down $2.19 during mid-day trading on Friday, hitting $29.45. The company’s stock had a trading volume of 3,732,290 shares, compared to its average volume of 32,797,797. The stock’s fifty day moving average is $29.81 and its two-hundred day moving average is $29.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $105.96 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 2.44 and a beta of 0.80. Comcast has a 1 year low of $25.75 and a 1 year high of $36.66.

Comcast (NASDAQ:CMCSAGet Free Report) last posted its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, analysts anticipate that Comcast will post 3.46 EPS for the current year.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the sale, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. This represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.32% of the stock is currently owned by insiders.

Institutional Trading of Comcast

Large investors have recently modified their holdings of the stock. Imprint Wealth LLC acquired a new stake in shares of Comcast in the third quarter valued at $26,000. United Financial Planning Group LLC acquired a new stake in shares of Comcast in the third quarter valued at $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Comcast in the fourth quarter valued at $27,000. Olistico Wealth LLC acquired a new stake in shares of Comcast in the fourth quarter valued at $29,000. Finally, Richardson Financial Services Inc. raised its stake in shares of Comcast by 212.6% in the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

More Comcast News

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Comcast Company Profile

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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.

Further Reading

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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