Comcast (NASDAQ:CMCSA)‘s stock had its “buy” rating reaffirmed by analysts at Pivotal Research in a report issued on Friday, Marketbeat reports. They presently have a $48.00 target price on the cable giant’s stock, down from their prior target price of $52.00. Pivotal Research’s price objective indicates a potential upside of 40.68% from the company’s previous close.
The analysts wrote, “We modified our financial model for: 4Q (including +265K PSU’s vs. +285K previously, +4% cable EBITDA growth down from +5%, and +9% NBC EBITDA growth up from +6.5%), changes in accounting standards and a conservative reduction in our medium/long term RGU forecasts/increase in wireless EBITDA losses, which drove a $4 reduction in our YE’18 target price to $48. At our new target CMCSA would trade at 15X ’18 FCF and vs. 11X currently. CMCSA shares have been abysmal YTD driven early on by accelerating relatively low margin PayTV declines, what we view as unwarranted concerns around heightened data competition from fixed 5G, concern around slowing market broadband subscriber growth and lately worries regarding spending related to cable attempts to attack the U.S. wireless market.””
Other equities research analysts have also recently issued reports about the company. Buckingham Research increased their price objective on Comcast from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Macquarie reaffirmed a “buy” rating and set a $40.00 price objective on shares of Comcast in a research report on Thursday, December 7th. Moffett Nathanson reaffirmed a “buy” rating and set a $52.00 price objective (up from $45.00) on shares of Comcast in a research report on Thursday, January 18th. TD Securities cut Comcast from an “action list buy” rating to a “buy” rating and increased their price objective for the company from $42.60 to $51.00 in a research report on Friday, January 12th. Finally, SunTrust Banks increased their price objective on Comcast to $50.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $47.16.
NASDAQ CMCSA opened at $34.12 on Friday. Comcast has a 12 month low of $32.74 and a 12 month high of $44.00. The firm has a market capitalization of $158,470.56, a PE ratio of 16.56, a P/E/G ratio of 1.25 and a beta of 1.17. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.74 and a current ratio of 0.74.
Comcast (NASDAQ:CMCSA) last released its earnings results on Wednesday, January 24th. The cable giant reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Comcast had a return on equity of 16.47% and a net margin of 26.87%. The firm had revenue of $21.92 billion for the quarter, compared to analysts’ expectations of $21.83 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts anticipate that Comcast will post 2.48 earnings per share for the current year.
In other news, SVP Daniel C. Murdock sold 1,891 shares of the firm’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $35.60, for a total value of $67,319.60. Following the transaction, the senior vice president now owns 2,585 shares of the company’s stock, valued at $92,026. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen B. Burke sold 190,756 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $42.51, for a total value of $8,109,037.56. Following the completion of the transaction, the executive vice president now directly owns 1,214,811 shares in the company, valued at approximately $51,641,615.61. The disclosure for this sale can be found here. In the last three months, insiders sold 1,399,951 shares of company stock worth $52,377,633. 1.28% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Garde Capital Inc. bought a new position in shares of Comcast in the fourth quarter worth about $206,000. Chemical Bank raised its stake in shares of Comcast by 34.8% in the fourth quarter. Chemical Bank now owns 23,878 shares of the cable giant’s stock worth $956,000 after buying an additional 6,162 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Comcast by 4.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 201,689 shares of the cable giant’s stock worth $8,078,000 after buying an additional 8,105 shares during the period. Fairfield Bush & CO. raised its stake in shares of Comcast by 40.7% in the fourth quarter. Fairfield Bush & CO. now owns 26,973 shares of the cable giant’s stock worth $1,080,000 after buying an additional 7,800 shares during the period. Finally, Colonial Trust Advisors raised its stake in shares of Comcast by 46.2% in the fourth quarter. Colonial Trust Advisors now owns 139,985 shares of the cable giant’s stock worth $5,607,000 after buying an additional 44,255 shares during the period. 83.49% of the stock is currently owned by hedge funds and other institutional investors.
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Comcast Company Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice, as well as security and automation services to residential and business customers under the XFINITY brand.
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