Comcast (NASDAQ:CMCSA) Rating Lowered to “Underweight” at Wells Fargo & Company

Comcast (NASDAQ:CMCSA) was downgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a report issued on Monday, MarketBeat Ratings reports. They currently have a $31.00 price objective on the cable giant’s stock, down from their previous price objective of $37.00. Wells Fargo & Company‘s price target would indicate a potential downside of 9.88% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Sanford C. Bernstein set a $38.00 target price on Comcast in a report on Friday, January 31st. Barclays decreased their target price on shares of Comcast from $42.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Benchmark dropped their price target on Comcast from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Scotiabank lifted their price objective on Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. Finally, BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price for the company. in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Comcast Trading Up 0.7 %

Shares of NASDAQ:CMCSA opened at $34.40 on Monday. The business’s 50 day moving average price is $35.56 and its 200-day moving average price is $38.46. Comcast has a 1 year low of $32.20 and a 1 year high of $45.31. The firm has a market capitalization of $130.07 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 1.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.68 and a quick ratio of 0.68.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. On average, equities research analysts forecast that Comcast will post 4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comcast

A number of institutional investors and hedge funds have recently modified their holdings of CMCSA. World Investment Advisors LLC grew its position in shares of Comcast by 904.0% in the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock valued at $10,632,000 after buying an additional 229,192 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Comcast in the 4th quarter valued at about $743,681,000. Bfsg LLC grew its stake in Comcast by 752.8% during the 4th quarter. Bfsg LLC now owns 83,366 shares of the cable giant’s stock worth $3,129,000 after buying an additional 73,590 shares during the last quarter. Mission Wealth Management LP increased its position in Comcast by 8.3% during the fourth quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant’s stock worth $1,633,000 after buying an additional 3,344 shares during the period. Finally, Robinson Value Management Ltd. boosted its holdings in shares of Comcast by 136.7% in the fourth quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock valued at $3,842,000 after acquiring an additional 59,107 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Comcast

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.