Evercore ISI Lowers Comcast (NASDAQ:CMCSA) Price Target to $48.00

Comcast (NASDAQ:CMCSA) had its price objective decreased by equities research analysts at Evercore ISI from $50.00 to $48.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the cable giant’s stock. Evercore ISI’s price objective suggests a potential upside of 26.02% from the company’s current price.

Several other equities research analysts have also commented on CMCSA. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Oppenheimer restated an “outperform” rating and set a $55.00 price target on shares of Comcast in a research report on Wednesday, April 3rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Friday, April 26th. Wells Fargo & Company reduced their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Finally, BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target on the stock. in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Comcast presently has an average rating of “Hold” and an average target price of $48.53.

Comcast Stock Down 0.2 %

Shares of NASDAQ CMCSA traded down $0.08 during mid-day trading on Tuesday, reaching $38.09. 2,411,211 shares of the company were exchanged, compared to its average volume of 20,513,074. The firm has a 50-day moving average of $38.71 and a 200 day moving average of $41.37. The stock has a market cap of $149.45 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.98 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. Comcast has a 1 year low of $36.43 and a 1 year high of $47.46.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, research analysts expect that Comcast will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comcast

Several institutional investors have recently modified their holdings of CMCSA. Greenwich Wealth Management LLC lifted its position in shares of Comcast by 2.6% during the 4th quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after acquiring an additional 219 shares during the last quarter. Legend Financial Advisors Inc. lifted its holdings in shares of Comcast by 17.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after purchasing an additional 220 shares during the last quarter. Beaumont Asset Management L.L.C. boosted its position in shares of Comcast by 1.6% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after purchasing an additional 226 shares during the period. Keystone Financial Services increased its stake in Comcast by 1.1% in the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after purchasing an additional 229 shares in the last quarter. Finally, Bollard Group LLC raised its holdings in Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after buying an additional 244 shares during the period. Institutional investors and hedge funds 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.