Comcast (NASDAQ:CMCSA) Reaches New 52-Week Low Following Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA) shares hit a new 52-week low during trading on Friday after Wells Fargo & Company lowered their price target on the stock from $47.00 to $43.00. Wells Fargo & Company currently has an equal weight rating on the stock. Comcast traded as low as $36.43 and last traded at $38.26, with a volume of 4269295 shares. The stock had previously closed at $37.87.

CMCSA has been the subject of several other research reports. Scotiabank dropped their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research report on Friday. Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. Oppenheimer reissued an “outperform” rating and issued a $55.00 price target on shares of Comcast in a report on Wednesday, April 3rd. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.45.

Insider Activity

In other news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Luken Investment Analytics LLC increased its stake in shares of Comcast by 258.0% in the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 418 shares in the last quarter. Steph & Co. boosted its holdings in Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after acquiring an additional 371 shares during the last quarter. NewSquare Capital LLC raised its stake in shares of Comcast by 94.1% during the 3rd quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock worth $28,000 after purchasing an additional 302 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Comcast by 299.1% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of Comcast during the 4th quarter worth $28,000. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 1.6 %

The stock has a 50 day moving average of $41.64 and a 200-day moving average of $42.61. The firm has a market capitalization of $152.80 billion, a P/E ratio of 10.18, a PEG 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 (NASDAQ:CMCSA) last announced 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. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Research analysts predict that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

About Comcast

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.