Comcast (NASDAQ:CMCSA) Trading 1.7% Higher on Better-Than-Expected Earnings

Comcast Co. (NASDAQ:CMCSA) shares shot up 1.7% on Friday following a better than expected earnings announcement. The company traded as high as $38.54 and last traded at $38.50. 9,578,640 shares changed hands during trading, a decline of 54% from the average session volume of 20,703,502 shares. The stock had previously closed at $37.87.

The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Evercore ISI reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Comcast in a report on Tuesday, March 26th. Citigroup increased their price objective on Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Scotiabank cut their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday. Redburn Atlantic cut Comcast from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Finally, BNP Paribas reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Tuesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.45.

Insider Transactions at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of Comcast stock in a transaction on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comcast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Connecticut Wealth Management LLC bought a new position in Comcast in the third quarter worth approximately $205,000. First Personal Financial Services purchased a new position in Comcast during the third quarter valued at $39,000. Lineweaver Wealth Advisors LLC bought a new position in Comcast during the third quarter valued at $208,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Comcast by 1.8% in the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 32,691 shares of the cable giant’s stock worth $1,450,000 after acquiring an additional 588 shares during the last quarter. Finally, Hemington Wealth Management grew its position in shares of Comcast by 11.8% in the 3rd quarter. Hemington Wealth Management now owns 6,947 shares of the cable giant’s stock worth $308,000 after buying an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Performance

The company has a current ratio of 0.59, a quick ratio of 0.60 and a debt-to-equity ratio of 1.13. The firm’s 50-day simple moving average is $41.58 and its two-hundred day simple moving average is $42.56. The company has a market cap of $153.19 billion, a PE ratio of 10.20, a P/E/G ratio of 0.92 and a beta of 0.98.

Comcast Company Profile

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.