Comcast (NASDAQ:CMCSA) Cut to “Underperform” at BNP Paribas

Comcast (NASDAQ:CMCSAGet Free Report) was downgraded by BNP Paribas from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday, Briefing.com reports. They presently have a $34.00 price objective on the cable giant’s stock. BNP Paribas’ price objective suggests a potential downside of 12.35% from the company’s previous close.

A number of other brokerages have also recently issued reports on CMCSA. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Friday, April 26th. Scotiabank reduced their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday, April 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Comcast in a research report on Wednesday, April 3rd. Redburn Atlantic cut Comcast from a “buy” rating to a “neutral” rating and cut their target price for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Finally, Benchmark restated a “buy” rating and set a $55.00 price target on shares of Comcast in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

View Our Latest Analysis on CMCSA

Comcast Price Performance

Shares of CMCSA opened at $38.79 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm has a market cap of $152.20 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.97 and a beta of 1.00. Comcast has a 52 week low of $36.43 and a 52 week high of $47.46. The stock has a 50 day moving average of $39.35 and a 200-day moving average of $41.80.

Comcast (NASDAQ:CMCSAGet Free Report) last released its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share 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 firm had revenue of $30.06 billion during the quarter, compared to analyst estimates of $29.83 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts forecast that Comcast will post 4.21 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the completion of the sale, the insider now directly owns 2,000,000 shares of the company’s stock, valued at $6,380,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

Institutional Trading of Comcast

Hedge funds have recently bought and sold shares of the stock. Cetera Advisor Networks LLC grew its stake in shares of Comcast by 1.7% in the first quarter. Cetera Advisor Networks LLC now owns 666,020 shares of the cable giant’s stock valued at $28,872,000 after buying an additional 11,417 shares in the last quarter. Cetera Advisors LLC raised its stake in Comcast by 71.0% in the first quarter. Cetera Advisors LLC now owns 198,430 shares of the cable giant’s stock valued at $8,602,000 after buying an additional 82,357 shares during the period. Cetera Investment Advisers lifted its position in shares of Comcast by 236.7% in the first quarter. Cetera Investment Advisers now owns 1,112,440 shares of the cable giant’s stock valued at $48,224,000 after buying an additional 782,029 shares during the last quarter. Invst LLC bought a new position in shares of Comcast during the 1st quarter worth approximately $1,220,000. Finally, PGGM Investments increased its holdings in shares of Comcast by 0.8% during the 1st quarter. PGGM Investments now owns 507,077 shares of the cable giant’s stock worth $21,982,000 after acquiring an additional 3,808 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

About Comcast

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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.

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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