Barclays Cuts Comcast (NASDAQ:CMCSA) Price Target to $40.00

Comcast (NASDAQ:CMCSA) had its target price lowered by Barclays from $41.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the cable giant’s stock. Barclays‘s price objective would suggest a potential upside of 5.01% from the stock’s previous close.

Several other research firms have also recently weighed in on CMCSA. BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research report on Tuesday, June 11th. Citigroup reduced their price objective on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Pivotal Research cut their target price on Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company cut their target price on Comcast from $47.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Evercore ISI cut their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.28.

Comcast Stock Down 1.1 %

Shares of Comcast stock opened at $38.09 on Thursday. The stock has a market capitalization of $149.45 billion, a P/E ratio of 10.08, a PEG ratio of 0.96 and a beta of 1.00. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average price of $38.55 and a two-hundred day moving average price of $40.71. Comcast has a 12-month low of $36.43 and a 12-month high of $47.46.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.20% and a net margin of 12.46%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. Equities analysts expect that Comcast will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $3.19, for a total transaction of $10,134,384.37. Following the transaction, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthspire Advisors LLC lifted its position in shares of Comcast by 4.8% during the 4th quarter. Wealthspire Advisors LLC now owns 60,650 shares of the cable giant’s stock valued at $2,659,000 after acquiring an additional 2,781 shares during the period. Desjardins Global Asset Management Inc. lifted its position in shares of Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after acquiring an additional 1,486 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Comcast during the 4th quarter valued at $2,056,000. Axxcess Wealth Management LLC lifted its position in shares of Comcast by 10.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after acquiring an additional 10,936 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Comcast by 3.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after acquiring an additional 368,685 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Comcast Company Profile

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.