Barclays Cuts Comcast (NASDAQ:CMCSA) Price Target to $40.00

Comcast (NASDAQ:CMCSA) had its price target dropped by analysts at Barclays from $41.00 to $40.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the cable giant’s stock. Barclays‘s price target indicates a potential upside of 5.01% from the company’s previous close.

Several other equities analysts have also issued reports on CMCSA. KeyCorp cut their price target on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup cut their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 29th. The Goldman Sachs Group initiated coverage on shares of Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. Scotiabank cut their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Comcast in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $47.28.

Comcast Stock Performance

Shares of NASDAQ:CMCSA opened at $38.09 on Thursday. The company has a market capitalization of $149.45 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. Comcast has a 52 week low of $36.43 and a 52 week high of $47.46. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average of $38.55 and a 200 day moving average of $40.71.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.20%. Comcast’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 earnings per share. On average, sell-side analysts predict that Comcast will post 4.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the transaction, the insider now owns 2,000,000 shares in the company, valued at $6,380,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CMCSA. Luken Investment Analytics LLC raised its position in shares of Comcast by 258.0% in the first quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock worth $25,000 after acquiring an additional 418 shares during the period. Steph & Co. raised its position in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast during the 4th quarter worth about $28,000. IAG Wealth Partners LLC raised its position in shares of Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after purchasing an additional 522 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new position in shares of Comcast during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Company Profile

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.