Bank of America Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price objective decreased by investment analysts at Bank of America from $38.00 to $36.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the cable giant’s stock. Bank of America‘s target price would indicate a potential upside of 14.58% from the company’s current price.

A number of other research analysts also recently weighed in on CMCSA. Citigroup reiterated a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. The Goldman Sachs Group decreased their target price on Comcast from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. UBS Group reduced their price objective on shares of Comcast from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, August 1st. Arete Research upgraded shares of Comcast to a “hold” rating in a research report on Tuesday, July 8th. Finally, Rosenblatt Securities lifted their price objective on Comcast from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.11.

Comcast Trading Down 0.2%

NASDAQ CMCSA opened at $31.42 on Monday. Comcast has a 1 year low of $31.03 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $116.01 billion, a PE ratio of 5.19, a P/E/G ratio of 1.89 and a beta of 0.93. The company has a fifty day moving average of $32.98 and a 200 day moving average of $34.26.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $30.31 billion for the quarter, compared to the consensus estimate of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.21 EPS. Research analysts forecast that Comcast will post 4.33 earnings per share for the current year.

Institutional Trading of Comcast

A number of institutional investors and hedge funds have recently bought and sold shares of CMCSA. Foster Group Inc. grew its holdings in shares of Comcast by 4.0% in the second quarter. Foster Group Inc. now owns 7,418 shares of the cable giant’s stock valued at $265,000 after purchasing an additional 282 shares in the last quarter. Toth Financial Advisory Corp boosted its position in Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant’s stock valued at $134,000 after buying an additional 300 shares during the period. Argyle Capital Management LLC boosted its position in Comcast by 0.5% in the 2nd quarter. Argyle Capital Management LLC now owns 61,186 shares of the cable giant’s stock valued at $2,184,000 after buying an additional 300 shares during the period. Clearstead Trust LLC grew its stake in shares of Comcast by 5.2% in the first quarter. Clearstead Trust LLC now owns 6,142 shares of the cable giant’s stock worth $227,000 after acquiring an additional 305 shares in the last quarter. Finally, Webster Bank N. A. increased its position in shares of Comcast by 2.9% during the second quarter. Webster Bank N. A. now owns 10,809 shares of the cable giant’s stock worth $386,000 after acquiring an additional 305 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

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.