Comcast (NASDAQ:CMCSA) Given New $43.00 Price Target at Moffett Nathanson

Comcast (NASDAQ:CMCSA) had its price target decreased by equities researchers at Moffett Nathanson from $52.00 to $43.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the cable giant’s stock. Moffett Nathanson’s price target would indicate a potential upside of 90.69% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Barclays set a $26.00 target price on shares of Comcast and gave the company an “equal weight” rating in a report on Friday, July 24th. Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the stock an “underweight” rating in a research report on Friday, July 24th. BNP Paribas Exane lowered their target price on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $28.00 price target on shares of Comcast in a report on Monday, July 13th. Finally, Seaport Research Partners raised Comcast from a “neutral” rating to a “buy” rating in a research note on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and an average target price of $32.17.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $22.55 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.80. The business’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $25.80. The stock has a market cap of $80.02 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.68. Comcast has a one year low of $21.28 and a one year high of $32.85.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The company had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts forecast that Comcast will post 3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Comcast

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Comcast by 42.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 153,399 shares of the cable giant’s stock valued at $3,766,000 after purchasing an additional 45,380 shares during the last quarter. Andra AP fonden increased its holdings in shares of Comcast by 695.9% during the 2nd quarter. Andra AP fonden now owns 378,218 shares of the cable giant’s stock worth $9,285,000 after buying an additional 330,700 shares during the last quarter. Security National Bank of Sioux City Iowa IA raised its position in shares of Comcast by 39.4% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 64,290 shares of the cable giant’s stock worth $1,578,000 after buying an additional 18,170 shares during the period. Anchor Investment Management LLC raised its position in shares of Comcast by 16.9% in the 2nd quarter. Anchor Investment Management LLC now owns 64,149 shares of the cable giant’s stock worth $1,593,000 after buying an additional 9,288 shares during the period. Finally, Talon Private Wealth LLC acquired a new position in Comcast in the second quarter valued at $274,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Comcast

Comcast Corporation (NASDAQ:CMCSA) is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.