Comcast (NASDAQ:CMCSA) Price Target Cut to $47.25 by Analysts at Scotiabank

Comcast (NASDAQ:CMCSA) had its target price decreased by Scotiabank from $50.00 to $47.25 in a report published on Friday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the cable giant’s stock.

Several other equities research analysts have also recently weighed in on CMCSA. Deutsche Bank Aktiengesellschaft reduced their price target on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Redburn Atlantic lowered shares of Comcast from a buy rating to a neutral rating and dropped their price objective for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Oppenheimer reissued an outperform rating and issued a $55.00 price target on shares of Comcast in a research report on Wednesday, April 3rd. Evercore ISI reiterated an outperform rating and set a $50.00 price objective on shares of Comcast in a research note on Tuesday, March 26th. Finally, StockNews.com downgraded Comcast from a strong-buy rating to a buy rating in a report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Comcast has an average rating of Moderate Buy and a consensus target price of $49.45.

Comcast Stock Up 1.8 %

Shares of NASDAQ CMCSA opened at $38.57 on Friday. The business has a 50-day moving average of $41.58 and a 200-day moving average of $42.57. The company has a current ratio of 0.59, a quick ratio of 0.60 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $153.19 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.92 and a beta of 0.98. Comcast has a 12 month low of $36.43 and a 12 month high of $47.46.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts expect that Comcast will post 4.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comcast

Large investors have recently bought and sold shares of the business. Capital World Investors raised its holdings in Comcast by 17.0% during the 4th quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after buying an additional 15,625,543 shares during the period. Norges Bank bought a new position in Comcast during the 4th quarter valued at about $2,542,988,000. Northern Trust Corp boosted its position in shares of Comcast by 0.3% during the third quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock valued at $2,040,522,000 after buying an additional 141,874 shares during the period. Bank of New York Mellon Corp boosted its holdings in Comcast by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 36,170,191 shares of the cable giant’s stock valued at $1,603,786,000 after acquiring an additional 1,229,374 shares during the period. Finally, Harris Associates L P increased its stake in Comcast by 10.9% in the fourth quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock worth $827,616,000 after purchasing an additional 1,854,671 shares during the period. Institutional investors own 84.32% of the company’s stock.

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.