Loop Capital Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its target price lowered by research analysts at Loop Capital from $54.00 to $53.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the cable giant’s stock. Loop Capital’s price target indicates a potential upside of 40.70% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a report on Thursday, November 21st. KeyCorp raised their price objective on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Pivotal Research increased their price target on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays lifted their price objective on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.39.

Comcast Stock Up 0.7 %

CMCSA stock opened at $37.67 on Thursday. The business’s 50-day moving average price is $41.33 and its 200-day moving average price is $40.25. The stock has a market cap of $144.15 billion, a P/E ratio of 10.13, a PEG ratio of 1.50 and a beta of 0.99. Comcast has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Comcast will post 4.26 EPS for the current year.

Insider Transactions at Comcast

In related news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the sale, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CMCSA. Versant Capital Management Inc increased its position in Comcast by 26.5% during the 4th quarter. Versant Capital Management Inc now owns 5,396 shares of the cable giant’s stock worth $203,000 after purchasing an additional 1,132 shares in the last quarter. Old Port Advisors raised its position in shares of Comcast by 4.9% in the fourth quarter. Old Port Advisors now owns 6,910 shares of the cable giant’s stock valued at $259,000 after buying an additional 325 shares during the last quarter. DGS Capital Management LLC lifted its stake in shares of Comcast by 4.5% during the third quarter. DGS Capital Management LLC now owns 28,498 shares of the cable giant’s stock valued at $1,190,000 after buying an additional 1,221 shares during the period. Synovus Financial Corp grew its stake in Comcast by 2.2% in the 3rd quarter. Synovus Financial Corp now owns 154,036 shares of the cable giant’s stock worth $6,434,000 after acquiring an additional 3,323 shares during the period. Finally, Tidal Investments LLC raised its holdings in Comcast by 15.2% in the 3rd quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock valued at $7,161,000 after acquiring an additional 22,684 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.