Comcast (NASDAQ:CMCSA) Stock Price Down 1.7% on Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA)’s share price fell 1.7% during trading on Tuesday after Citigroup lowered their price target on the stock from $53.00 to $48.00. Citigroup currently has a buy rating on the stock. Comcast traded as low as $37.84 and last traded at $38.20. 3,353,687 shares changed hands during trading, a decline of 84% from the average session volume of 20,666,600 shares. The stock had previously closed at $38.85.

CMCSA has been the subject of several other reports. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Comcast in a report on Wednesday, April 10th. BNP Paribas restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Tuesday, April 9th. Wells Fargo & Company decreased their price target on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Comcast from $55.00 to $53.00 in a report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.60.

Hedge Funds Weigh In On Comcast

A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. Luken Investment Analytics LLC boosted its stake in Comcast by 258.0% during the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after buying an additional 418 shares in the last quarter. Steph & Co. boosted its stake in Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after buying an additional 371 shares in the last quarter. NewSquare Capital LLC boosted its stake in Comcast by 94.1% during the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after buying an additional 302 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Comcast during the fourth quarter worth $28,000. Finally, Pineridge Advisors LLC acquired a new stake in Comcast during the fourth quarter worth $32,000. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $41.39 and its two-hundred day simple moving average is $42.44. The stock has a market cap of $151.73 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.97 and a beta of 0.98.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The company had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts forecast that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

About Comcast

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.