Comcast (NASDAQ:CMCSA) Given New $27.50 Price Target at Scotiabank

Comcast (NASDAQ:CMCSA) had its price target lowered by Scotiabank from $29.00 to $27.50 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the cable giant’s stock. Scotiabank’s price objective would indicate a potential upside of 27.58% from the company’s previous close.

CMCSA has been the subject of several other research reports. BNP Paribas Exane lowered their price objective on shares of Comcast from $25.00 to $22.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Freedom Capital upgraded shares of Comcast to a “hold” rating in a report on Friday, June 12th. Moffett Nathanson reduced their target price on Comcast from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $31.00 target price on shares of Comcast in a research report on Friday, July 24th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Comcast in a research note on Friday. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.00.

Comcast Trading Down 0.7%

Shares of NASDAQ CMCSA traded down $0.14 during trading on Friday, reaching $21.55. The company had a trading volume of 3,812,319 shares, compared to its average volume of 32,750,426. Comcast has a 12 month low of $21.28 and a 12 month high of $32.85. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock has a market cap of $76.49 billion, a P/E ratio of 6.97, a PEG ratio of 1.56 and a beta of 0.69. The company’s fifty day moving average price is $24.79 and its 200-day moving average price is $25.42.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The firm had revenue of $29.94 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the business earned $1.25 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. As a group, research analysts expect that Comcast will post 3.48 earnings per share for the current year.

Institutional Investors Weigh In On Comcast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lowe Brockenbrough & Co. Inc. raised its holdings in shares of Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant’s stock worth $225,000 after buying an additional 352 shares in the last quarter. Cedar Mountain Advisors LLC boosted its stake in Comcast by 48.2% in the first quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant’s stock valued at $34,000 after buying an additional 389 shares in the last quarter. PFG Investments LLC grew its position in Comcast by 0.9% in the first quarter. PFG Investments LLC now owns 41,771 shares of the cable giant’s stock valued at $1,199,000 after acquiring an additional 391 shares during the last quarter. Iron Gate Global Advisors LLC grew its position in Comcast by 4.6% in the fourth quarter. Iron Gate Global Advisors LLC now owns 8,956 shares of the cable giant’s stock valued at $268,000 after acquiring an additional 395 shares during the last quarter. Finally, Simmons Bank raised its stake in Comcast by 2.3% during the first quarter. Simmons Bank now owns 17,795 shares of the cable giant’s stock worth $511,000 after acquiring an additional 400 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.