Comcast (NASDAQ:CMCSA) Rating Lowered to Peer Perform at Wolfe Research

Comcast (NASDAQ:CMCSAGet Rating) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research note issued to investors on Thursday, Briefing.com reports. They currently have a $50.00 price objective on the cable giant’s stock, down from their prior price objective of $63.00. Wolfe Research’s price objective would suggest a potential upside of 15.31% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CMCSA. Oppenheimer lowered their price objective on shares of Comcast from $75.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 14th. JPMorgan Chase & Co. cut their price target on shares of Comcast from $60.00 to $52.00 in a research note on Friday, April 29th. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 12th. Morgan Stanley dropped their price target on shares of Comcast from $60.00 to $55.00 in a research report on Friday, April 29th. Finally, Pivotal Research decreased their price objective on shares of Comcast from $62.00 to $57.00 in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $58.38.

Shares of Comcast stock opened at $43.36 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.86 and a current ratio of 0.86. Comcast has a 1 year low of $39.47 and a 1 year high of $61.80. The firm’s 50-day simple moving average is $44.56 and its 200-day simple moving average is $47.51. The firm has a market cap of $196.56 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96.

Comcast (NASDAQ:CMCSAGet Rating) last released its earnings results on Thursday, April 28th. The cable giant reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Comcast had a net margin of 11.96% and a return on equity of 15.92%. The business had revenue of $31.01 billion during the quarter, compared to analyst estimates of $30.40 billion. During the same period in the prior year, the business earned $0.76 earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis. On average, equities analysts predict that Comcast will post 3.55 earnings per share for the current year.

In related news, CAO Daniel C. Murdock sold 8,929 shares of Comcast stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $44.50, for a total value of $397,340.50. Following the completion of the sale, the chief accounting officer now owns 1,817 shares of the company’s stock, valued at approximately $80,856.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David N. Watson sold 65,410 shares of Comcast stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $45.69, for a total value of $2,988,582.90. The disclosure for this sale can be found here. Insiders own 1.11% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CMCSA. Astoria Portfolio Advisors LLC. lifted its position in Comcast by 5.4% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 8,711 shares of the cable giant’s stock worth $408,000 after buying an additional 443 shares during the last quarter. Walleye Capital LLC lifted its position in Comcast by 81.7% in the 1st quarter. Walleye Capital LLC now owns 35,022 shares of the cable giant’s stock worth $1,640,000 after buying an additional 15,751 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Comcast by 9.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 61,400 shares of the cable giant’s stock worth $2,875,000 after buying an additional 5,246 shares during the last quarter. Gradient Investments LLC lifted its position in Comcast by 2,333.2% in the first quarter. Gradient Investments LLC now owns 277,001 shares of the cable giant’s stock valued at $12,969,000 after purchasing an additional 265,617 shares during the last quarter. Finally, Ninety One UK Ltd bought a new stake in Comcast in the first quarter valued at approximately $29,905,000. 83.33% of the stock is owned by institutional investors.

Comcast Company Profile (Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

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