Comcast (NASDAQ:CMCSA) Downgraded by Wells Fargo & Company to “Underweight”

Comcast (NASDAQ:CMCSA) was downgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. They currently have a $31.00 price target on the cable giant’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 8.07% from the company’s previous close.

A number of other equities analysts have also weighed in on CMCSA. Citigroup lowered their price target on shares of Comcast from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Scotiabank upped their price target on Comcast from $44.50 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on Comcast from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Rosenblatt Securities lowered their price objective on Comcast from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Barclays cut their target price on Comcast from $42.00 to $37.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.60.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $33.72 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $127.50 billion, a PE ratio of 8.13, a PEG ratio of 1.78 and a beta of 0.94. Comcast has a one year low of $32.20 and a one year high of $45.31. The firm has a fifty day moving average of $35.56 and a 200 day moving average of $38.54.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. As a group, research analysts predict that Comcast will post 4.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Comcast

Institutional investors have recently modified their holdings of the company. World Investment Advisors LLC boosted its position in shares of Comcast by 904.0% in the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock valued at $10,632,000 after purchasing an additional 229,192 shares during the period. Raymond James Financial Inc. acquired a new position in Comcast during the 4th quarter worth approximately $743,681,000. Bfsg LLC raised its position in Comcast by 752.8% in the fourth quarter. Bfsg LLC now owns 83,366 shares of the cable giant’s stock worth $3,129,000 after acquiring an additional 73,590 shares in the last quarter. Mission Wealth Management LP lifted its stake in shares of Comcast by 8.3% in the fourth quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant’s stock valued at $1,633,000 after purchasing an additional 3,344 shares during the period. Finally, Robinson Value Management Ltd. boosted its stake in shares of Comcast by 136.7% during the 4th quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant’s stock worth $3,842,000 after acquiring an additional 59,107 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other 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.