Citigroup Lowers Comcast (NASDAQ:CMCSA) Price Target to $35.00

Comcast (NASDAQ:CMCSA) had its target price decreased by stock analysts at Citigroup from $39.00 to $35.00 in a note issued to investors on Friday,MarketScreener reports. The firm presently has a “buy” rating on the cable giant’s stock. Citigroup’s target price suggests a potential upside of 25.76% from the stock’s previous close.

A number of other brokerages have also weighed in on CMCSA. Arete cut their price objective on Comcast from $39.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Bank of America cut their price objective on Comcast from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Scotiabank reissued a “sector perform” rating and issued a $45.50 price objective (up from $45.00) on shares of Comcast in a report on Monday, October 6th. Rosenblatt Securities cut their price objective on Comcast from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Finally, Arete Research raised Comcast to a “hold” rating in a report on Tuesday, July 8th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.74.

Comcast Trading Up 1.9%

Comcast stock opened at $27.83 on Friday. The stock has a 50-day moving average of $31.40 and a two-hundred day moving average of $33.32. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 0.88. The stock has a market cap of $102.75 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 1.65 and a beta of 0.94. Comcast has a one year low of $25.75 and a one year high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. The business had revenue of $30.34 billion for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%. On average, research analysts anticipate that Comcast will post 4.33 EPS for the current fiscal year.

Institutional Trading of Comcast

Several institutional investors have recently bought and sold shares of CMCSA. Norges Bank acquired a new stake in Comcast in the second quarter valued at approximately $3,528,361,000. Nuveen LLC acquired a new stake in Comcast in the first quarter valued at approximately $940,015,000. Dodge & Cox grew its holdings in Comcast by 18.1% in the second quarter. Dodge & Cox now owns 111,272,320 shares of the cable giant’s stock valued at $3,971,309,000 after purchasing an additional 17,054,579 shares during the period. Pacer Advisors Inc. grew its holdings in Comcast by 1,959.3% in the first quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock valued at $488,140,000 after purchasing an additional 12,586,329 shares during the period. Finally, First Trust Advisors LP grew its holdings in Comcast by 133.1% in the second quarter. First Trust Advisors LP now owns 10,187,177 shares of the cable giant’s stock valued at $363,580,000 after purchasing an additional 5,817,614 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

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.