Comcast (NASDAQ:CMCSA) Trading Down 1.7% After Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA) shares traded down 1.7% on Tuesday after Citigroup lowered their price target on the stock from $53.00 to $48.00. Citigroup currently has a buy rating on the stock. Comcast traded as low as $37.84 and last traded at $38.20. 3,353,687 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 20,666,600 shares. The stock had previously closed at $38.85.

CMCSA has been the subject of several other research reports. BNP Paribas reiterated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Tuesday, April 9th. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research report on Friday. Scotiabank dropped their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Finally, Wells Fargo & Company lowered their price target on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Greenwich Wealth Management LLC lifted its position in Comcast by 2.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after purchasing an additional 219 shares during the period. Legend Financial Advisors Inc. raised its position in shares of Comcast by 17.5% in the 4th quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after buying an additional 220 shares in the last quarter. Beaumont Asset Management L.L.C. lifted its holdings in shares of Comcast by 1.6% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock worth $620,000 after acquiring an additional 226 shares during the period. Keystone Financial Services boosted its position in shares of Comcast by 1.1% during the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after acquiring an additional 229 shares in the last quarter. Finally, Ironwood Financial llc increased its stake in Comcast by 1.6% in the third quarter. Ironwood Financial llc now owns 15,449 shares of the cable giant’s stock valued at $685,000 after acquiring an additional 238 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Down 1.9 %

The firm’s 50-day simple moving average is $41.54 and its 200 day simple moving average is $42.51. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $151.45 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.95 and a beta of 0.98.

Comcast (NASDAQ:CMCSA) last released 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 firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. Equities analysts expect that Comcast Co. will post 4.21 earnings per share for the current year.

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.