Scotiabank Trims Comcast (NASDAQ:CMCSA) Target Price to $47.25

Comcast (NASDAQ:CMCSA) had its price objective dropped by Scotiabank from $50.00 to $47.25 in a report released on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the cable giant’s stock. Scotiabank’s target price points to a potential upside of 24.77% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price target on shares of Comcast from $50.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, April 5th. BNP Paribas reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Tuesday, April 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Friday. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Finally, Citigroup raised their target price on shares of Comcast from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Comcast has a consensus rating of “Moderate Buy” and a consensus target price of $49.45.

Comcast Trading Down 5.8 %

Shares of NASDAQ:CMCSA opened at $37.87 on Friday. The company has a market capitalization of $150.41 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.60 and a current ratio of 0.60. Comcast has a 52-week low of $36.38 and a 52-week high of $47.46. The company has a 50-day simple moving average of $41.64 and a 200 day simple moving average of $42.61.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Sell-side analysts forecast that Comcast will post 4.23 earnings per share for the current year.

Insider Buying and Selling

In other news, President Michael J. Cavanagh sold 114,749 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comcast

Several institutional investors have recently added to or reduced their stakes in CMCSA. Everett Harris & Co. CA lifted its position in shares of Comcast by 7.7% in the 4th quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after purchasing an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. increased its stake in shares of Comcast by 1.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock worth $4,438,000 after acquiring an additional 1,486 shares in the last quarter. Altus Wealth Group LLC increased its stake in shares of Comcast by 8.3% in the 4th quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock worth $823,000 after acquiring an additional 1,432 shares in the last quarter. PFG Advisors increased its stake in shares of Comcast by 28.8% in the 4th quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock worth $1,012,000 after acquiring an additional 5,159 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Comcast in the 3rd quarter worth about $8,868,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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.