Citigroup Cuts Comcast (NASDAQ:CMCSA) Price Target to $48.00

Comcast (NASDAQ:CMCSA) had its price target cut by Citigroup from $53.00 to $48.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the cable giant’s stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. StockNews.com downgraded shares of Comcast from a strong-buy rating to a buy rating in a research note on Friday, March 22nd. Oppenheimer reaffirmed an outperform rating and set a $55.00 target price on shares of Comcast in a research report on Wednesday, April 3rd. Rosenblatt Securities reissued a neutral rating and issued a $45.00 price target on shares of Comcast in a research report on Friday, April 26th. Finally, BNP Paribas restated a neutral rating and set a $45.00 price objective on shares of Comcast in a research note on Tuesday, April 9th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $49.60.

Comcast Stock Up 0.2 %

Shares of NASDAQ CMCSA opened at $38.20 on Monday. Comcast has a 52-week low of $36.43 and a 52-week high of $47.46. The firm has a market capitalization of $151.73 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.97 and a beta of 0.98. The stock has a 50 day moving average price of $41.39 and a 200 day moving average price of $42.44. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. Sell-side analysts expect that Comcast will post 4.21 earnings per share for the current year.

Hedge Funds Weigh In On Comcast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMCSA. Everett Harris & Co. CA lifted its holdings in shares of Comcast by 7.7% during the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after purchasing an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. increased its stake in shares of Comcast by 1.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after acquiring an additional 1,486 shares during the period. Altus Wealth Group LLC boosted its stake in shares of Comcast by 8.3% in the fourth quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock worth $823,000 after buying an additional 1,432 shares during the last quarter. PFG Advisors lifted its holdings in Comcast by 28.8% in the fourth quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock valued at $1,012,000 after acquiring an additional 5,159 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Comcast during the 3rd quarter worth approximately $8,868,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.