Comcast (NASDAQ:CMCSA) Stock Price Up 1.7% After Strong Earnings

Comcast Co. (NASDAQ:CMCSA) shares traded up 1.7% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $38.54 and last traded at $38.50. 9,578,640 shares were traded during mid-day trading, a decline of 54% from the average session volume of 20,703,502 shares. The stock had previously closed at $37.87.

The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.66% and a return on equity of 19.75%. The business had revenue of $30.06 billion during the quarter, compared to analyst estimates of $29.83 billion. During the same quarter last year, the business earned $0.92 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $55.00 target price on shares of Comcast in a report on Wednesday, April 3rd. Scotiabank decreased their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday. Wells Fargo & Company lowered their target price on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday. Redburn Atlantic lowered 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, BNP Paribas restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research report on Tuesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and an average target price of $49.45.

Insiders Place Their Bets

In related news, President Michael J. Cavanagh sold 114,749 shares of Comcast stock in a transaction on Monday, January 29th. The stock was sold at an average price of $46.10, for a total transaction of $5,289,928.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

Comcast Trading Up 1.8 %

The firm has a 50 day simple moving average of $41.58 and a 200 day simple moving average of $42.57. The firm has a market cap of $153.19 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.98 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60.

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.