New Street Research Lowers Comcast (NASDAQ:CMCSA) Price Target to $30.00

Comcast (NASDAQ:CMCSA) had its price target lowered by equities researchers at New Street Research from $31.00 to $30.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the cable giant’s stock. New Street Research’s price target points to a potential upside of 30.98% from the stock’s previous close.

A number of other brokerages have also issued reports on CMCSA. Wall Street Zen raised Comcast to a “hold” rating in a research report on Saturday, March 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Comcast in a research note on Thursday, April 23rd. Freedom Capital upgraded shares of Comcast to a “hold” rating in a report on Friday, June 12th. Moffett Nathanson reduced their price target on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Finally, Morgan Stanley raised their price objective on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus target price of $34.46.

Comcast Stock Performance

NASDAQ:CMCSA traded up $0.27 during midday trading on Thursday, reaching $22.91. 2,989,378 shares of the company traded hands, compared to its average volume of 33,234,285. Comcast has a twelve month low of $22.13 and a twelve month high of $36.66. The firm has a market capitalization of $81.82 billion, a price-to-earnings ratio of 4.52, a price-to-earnings-growth ratio of 1.86 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The company has a fifty day moving average price of $25.50 and a 200 day moving average price of $28.10.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, analysts expect that Comcast will post 3.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.