Comcast (NASDAQ:CMCSA) Cut to Buy at StockNews.com

Comcast (NASDAQ:CMCSA – Get a Free Report) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

A number of other equities analysts have also weighed in on CMCSA. KeyCorp cut their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Macquarie restated a “neutral” rating and set a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Goldman Sachs Group initiated coverage on Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price target on the stock. Evercore ISI decreased their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Rosenblatt Securities restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $45.78, according to MarketBeat.com.

Read our latest analysis of CMCSA

Comcast stock performance

NASDAQ CMCSA opened at $39.55 on Friday. The stock has a 50 day simple moving average of $39.36 and a two hundred day simple moving average of $39.74. The firm has a market cap of $153.16 billion, a P/E ratio of 10.46, a PEG ratio of 1.03 and a beta of 1.01. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66, and a current ratio of 0.66.

Comcast (NASDAQ:CMCSA – Get Your Free Report ) last released its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s revenue fell 2.7% year over year. In the same quarter last year, the business posted EPS of $1.13. On average, equities analysts predict that Comcast will post 4.23 earnings per share for the current year.

Hedge funds weigh on Comcast

Institutional investors and hedge funds have recently modified their holdings of the company. Brevan Howard Capital Management LP purchased a new position in shares of Comcast during the fourth quarter valued at $2,056,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Comcast by 3.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after acquiring an additional 368,685 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in Comcast by 4.5% in the second quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after acquiring an additional 1,550 shares in the last quarter. First Hawaiian Bank boosted its stake in Comcast by 8.9% in the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after acquiring an additional 15,664 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its stake in Comcast by 10.3% in the fourth quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock valued at $685,000 after acquiring an additional 1,459 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s shares.

About Comcast

(Get a free report)

Comcast Corporation operates as a global media and technology company. It operates through the segments of residential connectivity and platforms, connectivity for business services, media, studios and theme parks. The Residential Connectivity and Platforms segment offers residential broadband and wireless connectivity services, residential and business video services, Sky-branded entertainment television networks and advertising.

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