Comcast (NASDAQ:CMCSA) Price Target Cut to $47.25 by Analysts at Scotiabank

Comcast (NASDAQ:CMCSA) had its price target trimmed by Scotiabank from $50.00 to $47.25 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a sector perform rating on the cable giant’s stock.

Several other brokerages also recently issued reports on CMCSA. StockNews.com downgraded shares of Comcast from a strong-buy rating to a buy rating in a research note on Friday, March 22nd. Wells Fargo & Company lowered their price target on shares of Comcast from $50.00 to $47.00 and set an equal weight rating for the company in a report on Friday, April 5th. Redburn Atlantic cut shares of Comcast from a buy rating to a neutral rating and dropped their target price for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft cut their target price on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Finally, Rosenblatt Securities reissued a neutral rating and set a $45.00 price objective on shares of Comcast in a research note on Friday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Comcast has an average rating of Moderate Buy and an average target price of $49.45.

Comcast Stock Performance

Comcast stock opened at $38.57 on Friday. Comcast has a 52 week low of $36.43 and a 52 week high of $47.46. The stock has a fifty day moving average price of $41.58 and a 200 day moving average price of $42.57. The firm has a market capitalization of $153.19 billion, a P/E ratio of 10.20, a PEG ratio of 0.92 and a beta of 0.98. The company has a current ratio of 0.59, a quick ratio of 0.60 and a debt-to-equity ratio of 1.13.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The firm had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. During the same period in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Comcast will post 4.23 earnings per share for the current year.

Insider Activity at Comcast

In related news, President Michael J. Cavanagh sold 114,749 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Luken Investment Analytics LLC grew its stake in shares of Comcast by 258.0% in the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after acquiring an additional 418 shares in the last quarter. Steph & Co. boosted its holdings in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after buying an additional 371 shares during the last quarter. NewSquare Capital LLC increased its holdings in Comcast by 94.1% during the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after buying an additional 302 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its stake in Comcast by 299.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after acquiring an additional 475,675 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in Comcast during the fourth quarter valued at $28,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

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.