Comcast (NASDAQ:CMCSA) Price Target Cut to $53.00 by Analysts at Loop Capital

Comcast (NASDAQ:CMCSA) had its price target reduced by analysts at Loop Capital from $54.00 to $53.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the cable giant’s stock. Loop Capital’s price target points to a potential upside of 39.99% from the company’s previous close.

Several other research analysts also recently commented on the company. Evercore ISI raised Comcast to a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $47.75 to $48.00 in a report on Friday, November 1st. TD Cowen lowered their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. Seaport Res Ptn raised shares of Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Barclays increased their price target on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.39.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.33 on Thursday, reaching $37.86. The stock had a trading volume of 9,890,667 shares, compared to its average volume of 19,704,725. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average is $41.41 and its two-hundred day moving average is $40.27. The firm has a market capitalization of $144.87 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.50 and a beta of 0.99. Comcast has a 12 month low of $36.43 and a 12 month high of $47.11.

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

Insider Transactions at Comcast

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction on 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 directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 534,849 shares in the company, valued at $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. 1.26% of the stock is currently owned by insiders.

Institutional Trading of Comcast

Several large investors have recently modified their holdings of CMCSA. FMR LLC boosted its stake in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after purchasing an additional 6,062,658 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Comcast by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after acquiring an additional 1,000,626 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after purchasing an additional 416,759 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Comcast by 6.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after purchasing an additional 1,717,762 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in Comcast by 5.4% in the third quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after purchasing an additional 822,936 shares in the last quarter. 84.32% of the stock is owned by 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.