Comcast (NASDAQ:CMCSA) Downgraded by Arete to “Sell”

Comcast (NASDAQ:CMCSAGet Free Report) was downgraded by research analysts at Arete from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday. They currently have a $23.00 price target on the cable giant’s stock. Arete’s target price would indicate a potential downside of 18.24% from the company’s current price.

CMCSA has been the topic of a number of other research reports. Williams Trading set a $40.00 price target on Comcast in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a report on Tuesday, October 14th. Zacks Research upgraded shares of Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $30.00 price objective (down previously from $39.00) on shares of Comcast in a research note on Friday, October 31st. Finally, Arete Research set a $23.00 target price on shares of Comcast in a research note on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.18.

Check Out Our Latest Report on CMCSA

Comcast Trading Down 4.8%

Shares of NASDAQ:CMCSA opened at $28.13 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $102.50 billion, a price-to-earnings ratio of 4.68, a PEG ratio of 2.07 and a beta of 0.81. Comcast has a 1-year low of $25.75 and a 1-year high of $38.40. The company has a 50 day moving average price of $28.02 and a 200 day moving average price of $31.20.

Comcast (NASDAQ:CMCSAGet Free Report) last announced its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. The company had revenue of $30.34 billion during the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. On average, research analysts anticipate that Comcast will post 4.33 EPS 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. Capital A Wealth Management LLC grew its holdings in Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the last quarter. Global Trust Asset Management LLC grew its stake in shares of Comcast by 906.8% in the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after acquiring an additional 671 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in Comcast by 86.0% during the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the period. Avalon Trust Co raised its stake in Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Comcast in the 1st quarter worth $29,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast News Roundup

Here are the key news stories impacting Comcast this week:

About Comcast

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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.

Further Reading

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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