Wells Fargo & Company Lowers Comcast (NASDAQ:CMCSA) Price Target to $43.00

Comcast (NASDAQ:CMCSA) had its target price lowered by Wells Fargo & Company from $47.00 to $43.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the cable giant’s stock.

CMCSA has been the topic of a number of other research reports. Rosenblatt Securities reaffirmed a neutral rating and set a $45.00 target price on shares of Comcast in a research note on Friday. BNP Paribas reaffirmed a neutral rating and issued a $45.00 price target on shares of Comcast in a research note on Tuesday, April 9th. Citigroup upped their target price on shares of Comcast from $51.00 to $53.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Evercore ISI reissued an outperform rating and set a $50.00 target price on shares of Comcast in a research report on Tuesday, March 26th. Finally, StockNews.com downgraded shares of Comcast from a strong-buy rating to a buy rating in a report on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $49.60.

Comcast Trading Up 0.7 %

Shares of CMCSA stock opened at $38.85 on Friday. The stock has a 50 day simple moving average of $41.54 and a 200 day simple moving average of $42.51. Comcast has a 1 year low of $36.43 and a 1 year high of $47.46. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a market cap of $154.31 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $29.83 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that Comcast will post 4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. Norges Bank purchased a new stake in shares of Comcast in the 4th quarter valued at $2,542,988,000. Capital World Investors lifted its stake in Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after purchasing an additional 15,625,543 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Comcast by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock valued at $446,303,000 after buying an additional 2,861,358 shares during the period. Morningstar Investment Services LLC grew its stake in shares of Comcast by 116.8% during the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after buying an additional 2,772,190 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Comcast by 215.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock worth $158,835,000 after buying an additional 2,474,946 shares during the period. 84.32% of the stock is currently owned by institutional investors.

About Comcast

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.