Comcast (NASDAQ:CMCSA) Reaches New 52-Week Low on Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA)’s share price reached a new 52-week low on Friday after Wells Fargo & Company lowered their price target on the stock from $47.00 to $43.00. Wells Fargo & Company currently has an equal weight rating on the stock. Comcast traded as low as $36.43 and last traded at $38.26, with a volume of 4269295 shares traded. The stock had previously closed at $37.87.

Several other equities analysts have also recently weighed in on CMCSA. Redburn Atlantic cut Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. StockNews.com downgraded shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. BNP Paribas restated a “neutral” rating and set a $45.00 target price on shares of Comcast in a research note on Tuesday, April 9th. 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Comcast has an average rating of “Moderate Buy” and an average target price of $49.45.

Insider Buying and Selling at Comcast

In related news, President Michael J. Cavanagh sold 114,749 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Greenwich Wealth Management LLC increased its position in Comcast by 2.6% during the 4th quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock valued at $372,000 after purchasing an additional 219 shares during the period. Legend Financial Advisors Inc. raised its stake in Comcast by 17.5% during the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock worth $65,000 after buying an additional 220 shares during the last quarter. Beaumont Asset Management L.L.C. lifted its holdings in Comcast by 1.6% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after buying an additional 226 shares during the period. Keystone Financial Services boosted its position in Comcast by 1.1% during the fourth quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock valued at $896,000 after acquiring an additional 229 shares during the last quarter. Finally, Ironwood Financial llc grew its holdings in Comcast by 1.6% during the 3rd quarter. Ironwood Financial llc now owns 15,449 shares of the cable giant’s stock worth $685,000 after acquiring an additional 238 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Price Performance

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

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Research analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

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.