The Goldman Sachs Group Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its target price cut by equities researchers at The Goldman Sachs Group from $30.00 to $28.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “neutral” rating on the cable giant’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 4.61% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Sanford C. Bernstein lowered their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, January 15th. Wall Street Zen raised shares of Comcast to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft reduced their target price on Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, Citigroup reiterated a “buy” rating and issued a $33.00 price objective (up from $32.79) on shares of Comcast in a research report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target of $34.79.

Comcast Stock Up 0.5%

Shares of CMCSA opened at $29.35 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $30.29 and a two-hundred day moving average price of $29.60. The stock has a market cap of $105.60 billion, a price-to-earnings ratio of 5.47, a P/E/G ratio of 2.26 and a beta of 0.79. Comcast has a 12 month low of $25.75 and a 12 month high of $37.72.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The company had revenue of $32.31 billion for the quarter, compared to analyst estimates of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. Equities analysts predict that Comcast will post 4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comcast

A number of institutional investors have recently made changes to their positions in CMCSA. Cape Investment Advisory Inc. boosted its holdings in Comcast by 2.6% during the second quarter. Cape Investment Advisory Inc. now owns 12,275 shares of the cable giant’s stock worth $438,000 after buying an additional 307 shares during the last quarter. Lakeshore Capital Group Inc. boosted its stake in Comcast by 2.6% during the 3rd quarter. Lakeshore Capital Group Inc. now owns 13,636 shares of the cable giant’s stock worth $428,000 after acquiring an additional 343 shares during the last quarter. Lowe Brockenbrough & Co. Inc. boosted its stake in Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after acquiring an additional 352 shares during the last quarter. Cora Capital Advisors LLC grew its holdings in Comcast by 3.4% during the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock valued at $329,000 after purchasing an additional 362 shares during the period. Finally, Hengehold Capital Management LLC increased its stake in Comcast by 0.5% in the third quarter. Hengehold Capital Management LLC now owns 82,778 shares of the cable giant’s stock valued at $2,601,000 after purchasing an additional 372 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

About Comcast

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.