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

Comcast (NASDAQ:CMCSA) had its price target boosted by research analysts at Macquarie from $40.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the cable giant’s stock. Macquarie’s price target suggests a potential downside of 2.19% from the company’s current price.

A number of other brokerages have also issued reports on CMCSA. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Pivotal Research lifted their price objective on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. KeyCorp increased their target price on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, TD Cowen reduced their price objective on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.88.

Comcast Price Performance

Shares of Comcast stock traded up $0.06 during midday trading on Monday, reaching $42.94. The company had a trading volume of 3,589,913 shares, compared to its average volume of 19,553,332. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast has a 1-year low of $36.43 and a 1-year high of $47.11. The company has a market capitalization of $164.31 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The stock has a fifty day simple moving average of $41.61 and a 200 day simple moving average of $39.89.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 EPS. As a group, equities research analysts forecast that Comcast will post 4.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its holdings in Comcast by 11.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 187,947 shares of the cable giant’s stock worth $7,863,000 after purchasing an additional 19,039 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Comcast by 7.7% during the third quarter. Prestige Wealth Management Group LLC now owns 31,011 shares of the cable giant’s stock valued at $1,295,000 after buying an additional 2,216 shares during the period. Brophy Wealth Management LLC purchased a new stake in shares of Comcast in the third quarter worth about $712,000. Nabity Jensen Investment Management Inc bought a new position in shares of Comcast in the third quarter valued at approximately $455,000. Finally, Continuum Advisory LLC grew its stake in Comcast by 13.2% during the third quarter. Continuum Advisory LLC now owns 17,669 shares of the cable giant’s stock valued at $768,000 after acquiring an additional 2,058 shares in the last quarter. Institutional investors 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.