Citigroup Lowers Comcast (NASDAQ:CMCSA) Price Target to $32.00

Comcast (NASDAQ:CMCSA) had its price target reduced by Citigroup from $35.50 to $32.00 in a report released on Monday,MarketScreener reports. The firm presently has a “buy” rating on the cable giant’s stock. Citigroup’s target price suggests a potential upside of 26.14% from the stock’s current price.

CMCSA has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a research report on Saturday, March 14th. Rosenblatt Securities dropped their target price on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. Evercore increased their price target on Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Morgan Stanley lifted their price objective on Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Finally, UBS Group restated a “neutral” rating on shares of Comcast in a research report on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.32.

Comcast Trading Up 9.5%

Shares of NASDAQ CMCSA traded up $2.20 during trading on Monday, reaching $25.37. The company had a trading volume of 44,355,953 shares, compared to its average volume of 33,526,258. The stock has a market cap of $90.62 billion, a P/E ratio of 4.97, a PEG ratio of 1.89 and a beta of 0.68. The company’s fifty day moving average price is $25.29 and its 200-day moving average price is $28.04. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast has a 12 month low of $22.13 and a 12 month high of $36.66.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC boosted its stake in shares of Comcast by 421.3% during the first quarter. Western Wealth Management LLC now owns 71,828 shares of the cable giant’s stock valued at $2,062,000 after purchasing an additional 58,049 shares during the period. First National Bank of Mount Dora Trust Investment Services raised its holdings in Comcast by 7.9% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 136,782 shares of the cable giant’s stock worth $3,927,000 after buying an additional 9,976 shares during the last quarter. Wealthquest Corp raised its holdings in Comcast by 15.9% in the first quarter. Wealthquest Corp now owns 8,714 shares of the cable giant’s stock worth $250,000 after buying an additional 1,195 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Comcast by 20.3% in the first quarter. Parallel Advisors LLC now owns 53,629 shares of the cable giant’s stock worth $1,540,000 after buying an additional 9,064 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Comcast by 35.6% during the first quarter. NewEdge Advisors LLC now owns 469,089 shares of the cable giant’s stock valued at $13,468,000 after buying an additional 123,151 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast News Summary

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast’s plan to separate into two public companies is being viewed as a value-creation move that could improve strategic focus and let investors better price the cable and media assets separately. Comcast to split cable business from media in NBCUniversal, Sky spinoff
• Positive Sentiment: The planned spin-off could reduce the conglomerate discount on Comcast and create two cleaner investment stories, which is helping drive the stock higher. Comcast to Split Media and Tech Businesses Into Two Separate Companies
• Positive Sentiment: Several reports said investors are cheering the move, with multiple headlines describing a strong surge in CMCSA shares after the announcement. Comcast announces it will spin off media and tech wings into separate public companies

Comcast Company Profile

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.