Benchmark Lowers Comcast (NASDAQ:CMCSA) Price Target to $44.00

by · The Markets Daily

Comcast (NASDAQ:CMCSAGet Free Report) had its target price reduced by investment analysts at Benchmark from $46.00 to $44.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the cable giant’s stock. Benchmark’s target price suggests a potential upside of 56.42% from the company’s previous close.

A number of other analysts have also weighed in on the company. Oppenheimer set a $38.00 target price on Comcast in a report on Tuesday, November 4th. Loop Capital dropped their price objective on shares of Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Citigroup decreased their price objective on shares of Comcast from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Barclays decreased their price target on Comcast from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Comcast from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Eleven research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.11.

Check Out Our Latest Research Report on Comcast

Comcast Price Performance

Shares of Comcast stock opened at $28.13 on Monday. The stock’s fifty day moving average is $28.02 and its 200 day moving average is $31.20. The stock has a market cap of $102.50 billion, a P/E ratio of 4.68, a P/E/G ratio of 2.07 and a beta of 0.81. Comcast has a one year low of $25.75 and a one year high of $38.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88.

Comcast (NASDAQ:CMCSAGet Free Report) last released its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. The firm had revenue of $30.34 billion for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. Sell-side analysts anticipate that Comcast will post 4.33 earnings per share for the current year.

Hedge Funds Weigh In On Comcast

A number of hedge funds have recently modified their holdings of the business. Capital A Wealth Management LLC raised its position in Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after acquiring an additional 436 shares in the last quarter. Imprint Wealth LLC acquired a new position in Comcast in the 3rd quarter valued at about $26,000. Cranbrook Wealth Management LLC grew its stake in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after acquiring an additional 350 shares during the period. Global Trust Asset Management LLC lifted its position in Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares during the period. Finally, Avalon Trust Co increased its position in Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

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About Comcast

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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.

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