Comcast (NASDAQ:CMCSA) Upgraded at Rosenblatt Securities

Comcast (NASDAQ:CMCSA) was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $31.00 price target on the cable giant’s stock, up from their previous price target of $24.00. Rosenblatt Securities’ target price would suggest a potential upside of 28.15% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. New Street Research decreased their target price on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. BNP Paribas Exane cut their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 8th. Wall Street Zen raised Comcast to a “hold” rating in a research report on Saturday, March 14th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Scotiabank increased their price objective on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.52.

Comcast Price Performance

Shares of CMCSA opened at $24.19 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. Comcast has a 1-year low of $22.13 and a 1-year high of $36.66. The stock has a market cap of $86.41 billion, a PE ratio of 4.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.68. The firm has a fifty day moving average price of $25.19 and a 200 day moving average price of $28.02.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. During the same quarter last year, the company posted $1.09 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Comcast will post 3.53 EPS for the current year.

Hedge Funds Weigh In On Comcast

Institutional investors have recently added to or reduced their stakes in the stock. Imprint Wealth LLC acquired a new stake in Comcast during the 3rd quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Comcast in the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC increased its holdings in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares during the period. Main Street Group LTD purchased a new stake in shares of Comcast during the first quarter worth approximately $27,000. Finally, United Financial Planning Group LLC purchased a new stake in shares of Comcast during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Key Stories Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast said it will spin off NBCUniversal and Sky into a new public company, leaving the core connectivity business as a separate entity; the market is viewing the move as a potential catalyst for higher valuation. Comcast to Split Media and Tech Businesses Into Two Separate Companies
• Positive Sentiment: Analysts and traders are calling the breakup “long overdue,” arguing that the separation could let investors value Comcast’s cable and media assets on their own merits rather than as one mixed conglomerate. Comcast’s breakup was ‘long overdue,’ analyst says as shares surge
• Positive Sentiment: The announcement has also sparked speculation that the new NBCUniversal company could become a takeover target or a catalyst for broader media M&A, which is adding to investor enthusiasm. Comcast Spinoff Could Spark Next Wave of Media Deals

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.