Comcast (NASDAQ:CMCSA) Price Target Lowered to $22.00 at BNP Paribas Exane

Comcast (NASDAQ:CMCSA) had its price objective cut by equities researchers at BNP Paribas Exane from $25.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the cable giant’s stock. BNP Paribas Exane’s price objective points to a potential downside of 6.64% from the stock’s previous close.

Several other equities analysts also recently commented on CMCSA. Evercore increased their price target on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Moffett Nathanson reduced their price objective on shares of Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. The Goldman Sachs Group decreased their price objective on shares of Comcast from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Morgan Stanley lowered their target price on shares of Comcast from $33.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 7th. Finally, New Street Research cut their target price on shares of Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Comcast currently has a consensus rating of “Hold” and a consensus price target of $33.77.

Comcast Stock Down 1.7%

Shares of CMCSA traded down $0.41 during midday trading on Tuesday, reaching $23.57. 9,670,145 shares of the stock were exchanged, compared to its average volume of 34,409,160. Comcast has a 12-month low of $22.13 and a 12-month high of $36.01. The firm has a 50 day simple moving average of $24.20 and a 200-day simple moving average of $27.66. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. The company has a market cap of $84.18 billion, a price-to-earnings ratio of 4.64, a P/E/G ratio of 1.94 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The business had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Comcast will post 3.49 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Lowe Brockenbrough & Co. Inc. increased its stake in Comcast by 4.9% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock valued at $225,000 after acquiring an additional 352 shares during the period. Cora Capital Advisors LLC lifted its stake in Comcast by 3.4% during the fourth quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant’s stock worth $329,000 after purchasing an additional 362 shares during the period. Oakworth Capital Inc. boosted its holdings in Comcast by 7.4% during the fourth quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant’s stock valued at $164,000 after purchasing an additional 377 shares in the last quarter. WPG Advisers LLC grew its stake in shares of Comcast by 15.9% in the 4th quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant’s stock valued at $84,000 after purchasing an additional 384 shares during the period. Finally, Addison Advisors LLC grew its stake in shares of Comcast by 55.7% in the 4th quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 384 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.