Comcast (NASDAQ:CMCSA) Rating Increased to Buy at Rosenblatt Securities

Comcast (NASDAQ:CMCSA) was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Benzinga reports. The brokerage presently has a $31.00 price target on the cable giant’s stock, up from their prior price target of $24.00. Rosenblatt Securities’ price objective points to a potential upside of 28.15% from the stock’s current price.

Other analysts have also recently issued reports about the company. Evercore increased their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Freedom Capital raised Comcast to a “hold” rating in a research note on Friday, June 12th. Citigroup cut their price target on Comcast from $35.50 to $32.00 and set a “buy” rating on the stock in a report on Monday. Moffett Nathanson reduced their price target on Comcast from $53.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Finally, New Street Research decreased their price objective on Comcast from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Eleven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $34.52.

Comcast Trading Up 4.4%

Shares of CMCSA stock opened at $24.19 on Tuesday. Comcast has a fifty-two week low of $22.13 and a fifty-two week high of $36.66. The company has a 50 day moving average price of $25.19 and a 200 day moving average price of $28.02. The stock has a market capitalization of $86.41 billion, a P/E ratio of 4.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. Equities research analysts predict that Comcast will post 3.53 EPS for the current fiscal year.

Institutional Trading of Comcast

A number of hedge funds and other institutional investors have recently bought and sold shares of CMCSA. Imprint Wealth LLC purchased a new position in shares of Comcast in the 3rd quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Comcast during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC lifted its stake in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after purchasing an additional 401 shares during the last quarter. Main Street Group LTD acquired a new position in Comcast in the first quarter valued at approximately $27,000. Finally, United Financial Planning Group LLC acquired a new position in Comcast in the third quarter valued at approximately $28,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast said it will spin off NBCUniversal and Sky into a new public company, leaving the core connectivity business as a separate entity; the market is viewing the move as a potential catalyst for higher valuation. Comcast to Split Media and Tech Businesses Into Two Separate Companies
• Positive Sentiment: Analysts and traders are calling the breakup “long overdue,” arguing that the separation could let investors value Comcast’s cable and media assets on their own merits rather than as one mixed conglomerate. Comcast’s breakup was ‘long overdue,’ analyst says as shares surge
• Positive Sentiment: The announcement has also sparked speculation that the new NBCUniversal company could become a takeover target or a catalyst for broader media M&A, which is adding to investor enthusiasm. Comcast Spinoff Could Spark Next Wave of Media Deals

About Comcast

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.