Comcast (NASDAQ:CMCSA) Reaches New 52-Week Low – What’s Next?

Shares of Comcast Co. (NASDAQ:CMCSA) hit a new 52-week low on Thursday . The stock traded as low as $34.24 and last traded at $34.11, with a volume of 1252910 shares trading hands. The stock had previously closed at $37.36.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CMCSA. Deutsche Bank Aktiengesellschaft raised their price objective on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Macquarie reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Comcast in a research note on Monday, January 6th. Wells Fargo & Company reduced their target price on Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Morgan Stanley downgraded Comcast from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $48.00 to $45.00 in a research note on Monday, December 16th. Finally, Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Comcast in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Comcast presently has an average rating of “Moderate Buy” and an average target price of $47.33.

Comcast Price Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $128.86 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The firm has a 50-day moving average price of $39.01 and a 200-day moving average price of $40.15.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.81% and a net margin of 11.92%. On average, analysts forecast that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction that occurred on 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 approximately $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Comcast

Several institutional investors and hedge funds have recently modified their holdings of CMCSA. Winch Advisory Services LLC raised its stake in shares of Comcast by 269.9% during the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock worth $26,000 after buying an additional 502 shares during the period. Safe Harbor Fiduciary LLC purchased a new stake in shares of Comcast during the third quarter worth approximately $30,000. McClarren Financial Advisors Inc. raised its stake in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Comcast in the 4th quarter valued at $28,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Comcast by 220.3% during the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock worth $32,000 after buying an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.