Comcast (NASDAQ:CMCSA) Price Target Raised to $42.00

Comcast (NASDAQ:CMCSA) had its price target lifted by investment analysts at Macquarie from $40.00 to $42.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the cable giant’s stock. Macquarie’s target price would indicate a potential downside of 0.76% from the company’s current price.

Several other equities research analysts have also commented on the stock. Pivotal Research raised their price target on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research note on Wednesday, November 6th. Barclays raised their price objective on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Comcast has a consensus rating of “Moderate Buy” and a consensus price target of $47.19.

Comcast Price Performance

CMCSA opened at $42.32 on Monday. The company’s 50-day moving average price is $41.73 and its 200 day moving average price is $39.95. Comcast has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The firm has a market cap of $161.94 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. 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 results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same quarter last year, the business earned $1.08 earnings per share. Comcast’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Comcast will post 4.25 earnings per share for the current year.

Hedge Funds Weigh In On Comcast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMCSA. Koshinski Asset Management Inc. grew its holdings in shares of Comcast by 0.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock valued at $1,277,000 after purchasing an additional 249 shares during the last quarter. Taurus Asset Management LLC grew its holdings in shares of Comcast by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after purchasing an additional 253 shares during the last quarter. Regent Peak Wealth Advisors LLC grew its holdings in shares of Comcast by 3.1% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after purchasing an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of Comcast by 4.7% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock valued at $243,000 after purchasing an additional 260 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its holdings in shares of Comcast by 2.7% during the 2nd quarter. Greenwich Wealth Management LLC now owns 9,754 shares of the cable giant’s stock valued at $382,000 after purchasing an additional 261 shares during the last quarter. 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.