Moffett Nathanson Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price target dropped by equities research analysts at Moffett Nathanson from $52.00 to $43.00 in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the cable giant’s stock. Moffett Nathanson’s price objective points to a potential upside of 91.19% from the stock’s current price.

Several other equities research analysts have also issued reports on CMCSA. New Street Research dropped 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. Morgan Stanley set a $29.00 target price on Comcast in a research report on Friday, July 24th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $28.00 price target on shares of Comcast in a research report on Monday, July 13th. UBS Group reaffirmed a “neutral” rating and issued a $27.00 target price (down from $32.00) on shares of Comcast in a report on Tuesday, September 15th. Finally, Weiss Ratings cut Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.17.

Comcast Trading Down 0.3%

NASDAQ CMCSA opened at $22.49 on Tuesday. Comcast has a 12 month low of $21.28 and a 12 month high of $32.85. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average of $24.99 and a 200-day moving average of $25.80. The company has a market cap of $79.81 billion, a PE ratio of 7.30, a PEG ratio of 1.60 and a beta of 0.68.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 earnings per share. On average, equities research analysts anticipate that Comcast will post 3.5 EPS for the current fiscal year.

Institutional Trading of Comcast

A number of hedge funds have recently modified their holdings of CMCSA. Allied Private Wealth LLC bought a new position in shares of Comcast during the 2nd quarter worth $26,000. Whipplewood Advisors LLC raised its holdings in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 401 shares in the last quarter. Main Street Group LTD purchased a new stake in Comcast in the first quarter worth about $27,000. Thompson Investment Management Inc. bought a new position in Comcast during the 2nd quarter worth about $29,000. Finally, Provenance Wealth Advisors LLC purchased a new position in Comcast during the 1st quarter valued at about $30,000. Institutional investors own 84.32% of the company’s stock.

About Comcast

Comcast Corporation (NASDAQ:CMCSA) is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.