Scotiabank Lowers Comcast (NASDAQ:CMCSA) Price Target to $47.25

Comcast (NASDAQ:CMCSA) had its target price cut by analysts at Scotiabank from $50.00 to $47.25 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the cable giant’s stock. Scotiabank’s price target suggests a potential upside of 22.50% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Evercore ISI reiterated an “outperform” rating and issued a $50.00 price target on shares of Comcast in a research report on Tuesday, March 26th. BNP Paribas reiterated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research report on Tuesday, April 9th. Finally, Citigroup boosted their price objective on Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Ten 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 has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Comcast Stock Performance

CMCSA opened at $38.57 on Friday. The stock has a market cap of $153.19 billion, a PE ratio of 10.20, a P/E/G ratio of 0.92 and a beta of 0.98. The company has a current ratio of 0.59, a quick ratio of 0.60 and a debt-to-equity ratio of 1.13. Comcast has a 1 year low of $36.43 and a 1 year high of $47.46. The stock’s 50 day simple moving average is $41.58 and its 200-day simple moving average is $42.56.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that Comcast will post 4.23 EPS for the current year.

Insider Activity

In other news, President Michael J. Cavanagh sold 114,749 shares of the company’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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comcast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMCSA. Norges Bank bought a new stake in Comcast in the fourth quarter valued at about $2,542,988,000. Capital World Investors increased its holdings in shares of Comcast by 17.0% in the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock worth $4,725,926,000 after acquiring an additional 15,625,543 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Comcast by 39.7% in the third quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock worth $446,303,000 after acquiring an additional 2,861,358 shares in the last quarter. Morningstar Investment Services LLC increased its holdings in shares of Comcast by 116.8% in the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock worth $227,034,000 after acquiring an additional 2,772,190 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Comcast by 215.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock worth $158,835,000 after acquiring an additional 2,474,946 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

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.