StockNews.com Downgrades Comcast (NASDAQ:CMCSA) to Buy

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

A number of other equities research analysts recently commented on CMCSA. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price on the stock. in a report on Tuesday, June 11. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Goldman Sachs Group assumed coverage on shares of Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective on the stock. Macquarie restated a “neutral” rating and set a $40.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Finally, Evercore ISI cut their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.78.

Get the latest stock report on Comcast

Comcast stock rose 1.5%

NASDAQ CMCSA opened at $40.73 on Tuesday. Comcast has a 52-week low of $36.43 and a 52-week high of $47.11. The company has a quick ratio of 0.66, a current ratio of 0.66, and a debt-to-equity ratio of 1.16. The company has a market cap of $159.81 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The stock’s 50-day moving average price is $39.61 and its 200-day moving average price is $39.62.

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

Comcast Institutional Trading

A number of hedge funds have recently bought and sold shares of CMCSA. Centaurus Financial Inc. lifted its position in shares of Comcast by 77.2% during the second quarter. Centaurus Financial Inc. now owns 14,182 shares of the cable giant’s stock valued at $555,000 after purchasing an additional 6,179 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Comcast by 77.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,594,006 shares of the cable giant’s stock worth $140,741,000 after purchasing an additional 1,568,995 shares during the last quarter. Verity & Verity LLC boosted its holdings in shares of Comcast by 20.4% during the 2nd quarter. Verity & Verity LLC now owns 254,361 shares of the cable giant’s stock worth $9,961,000 after buying an additional 43,110 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Comcast in the second quarter valued at $952,000. Finally, Sanctuary Advisors LLC purchased a new position in Comcast in the second quarter valued at $29,278,000. Hedge funds and other institutional investors own 84.32% of the company’s shares.

About Comcast

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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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