Comcast (NASDAQ:CMCSA) Reaches New 12-Month Low – What’s Next?

Comcast Corporation (NASDAQ:CMCSA)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $25.72 and last traded at $25.6050, with a volume of 5372225 shares. The stock had previously closed at $26.24.

Analyst Ratings Changes

A number of equities analysts have commented on CMCSA shares. Pivotal Research lowered Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Scotiabank increased their price target on shares of Comcast from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Morgan Stanley increased their price target on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Barclays set a $28.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Finally, BNP Paribas Exane decreased their price target on Comcast from $26.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.94.

Comcast Price Performance

The firm has a market cap of $91.43 billion, a P/E ratio of 5.04, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. The business has a 50-day moving average of $29.08 and a two-hundred day moving average of $28.93.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, sell-side analysts anticipate that Comcast Corporation will post 3.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction 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. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of Comcast by 150.9% in the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant’s stock valued at $6,240,000 after acquiring an additional 99,986 shares in the last quarter. Voya Financial Advisors Inc. grew its holdings in shares of Comcast by 3.2% in the second quarter. Voya Financial Advisors Inc. now owns 83,883 shares of the cable giant’s stock valued at $2,963,000 after acquiring an additional 2,593 shares in the last quarter. United Bank grew its holdings in shares of Comcast by 11.3% in the second quarter. United Bank now owns 42,216 shares of the cable giant’s stock valued at $1,507,000 after acquiring an additional 4,290 shares in the last quarter. HUB Investment Partners LLC grew its holdings in shares of Comcast by 119.4% in the second quarter. HUB Investment Partners LLC now owns 16,974 shares of the cable giant’s stock valued at $606,000 after acquiring an additional 9,236 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in shares of Comcast by 66.8% in the second quarter. Diversify Advisory Services LLC now owns 39,607 shares of the cable giant’s stock valued at $1,414,000 after acquiring an additional 15,865 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.