Comcast (NASDAQ:CMCSA) Stock Price Down 1.7% Following Analyst Downgrade

Shares of Comcast Co. (NASDAQ:CMCSA) were down 1.7% during trading on Tuesday after Citigroup lowered their price target on the stock from $53.00 to $48.00. Citigroup currently has a buy rating on the stock. Comcast traded as low as $37.84 and last traded at $38.20. Approximately 3,353,687 shares changed hands during trading, a decline of 84% from the average daily volume of 20,666,600 shares. The stock had previously closed at $38.85.

A number of other analysts have also commented on CMCSA. Evercore ISI reissued an “outperform” rating and set a $50.00 price target on shares of Comcast in a research note on Tuesday, March 26th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Friday, April 26th. Oppenheimer restated an “outperform” rating and set a $55.00 price objective on shares of Comcast in a research report on Wednesday, April 3rd. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $44.00 in a research report on Thursday, February 15th. Finally, Wells Fargo & Company lowered their price objective on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.60.

Institutional Investors Weigh In On Comcast

Hedge funds and other institutional investors have recently modified their holdings of the company. Luken Investment Analytics LLC lifted its position in shares of Comcast by 258.0% during the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after buying an additional 418 shares during the last quarter. Steph & Co. lifted its holdings in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. NewSquare Capital LLC lifted its holdings in Comcast by 94.1% during the 3rd quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after purchasing an additional 302 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its holdings in Comcast by 299.1% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in Comcast during the 4th quarter worth about $28,000. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

The business has a fifty day moving average of $41.39 and a 200-day moving average of $42.44. The firm has a market cap of $151.73 billion, a PE ratio of 10.11, a PEG ratio of 0.97 and a beta of 0.98. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same quarter last year, the firm posted $0.92 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Comcast Co. will post 4.21 earnings per share for the current year.

About Comcast

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.