Comcast (NASDAQ:CMCSA) Trading Down 1.7% Following Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA)’s stock 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 were traded during mid-day trading, a decline of 84% from the average session volume of 20,666,600 shares. The stock had previously closed at $38.85.

A number of other equities analysts have also recently issued reports on CMCSA. Wells Fargo & Company lowered their price objective on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Comcast in a report on Wednesday, April 10th. Scotiabank reduced their target price on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

Hedge Funds Weigh In On Comcast

Several institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its position 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 valued at $4,725,926,000 after acquiring an additional 15,625,543 shares during the period. Norges Bank purchased a new stake in Comcast in the fourth quarter valued at approximately $2,542,988,000. Northern Trust Corp raised its stake in Comcast by 0.3% in the third quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock valued at $2,040,522,000 after purchasing an additional 141,874 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Comcast by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 36,170,191 shares of the cable giant’s stock valued at $1,603,786,000 after purchasing an additional 1,229,374 shares in the last quarter. Finally, Harris Associates L P raised its stake in Comcast by 10.9% in the fourth quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after purchasing an additional 1,854,671 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Price Performance

The business’s 50 day moving average is $41.47 and its two-hundred day moving average is $42.47. The firm has a market capitalization of $151.37 billion, a PE ratio of 10.08, a P/E/G ratio of 0.95 and a beta of 0.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59.

Comcast (NASDAQ:CMCSA) last announced its 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. The business had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. Comcast’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. As a group, research analysts anticipate that Comcast Co. will post 4.21 EPS for the current 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.