Citigroup Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSAGet Free Report) had its price objective cut by equities research analysts at Citigroup from $47.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the cable giant’s stock. Citigroup’s price target points to a potential upside of 31.13% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Macquarie decreased their price objective on Comcast from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Friday. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Pivotal Research boosted their price objective on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays upped their target price on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Benchmark decreased their target price on Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Read Our Latest Stock Analysis on Comcast

Comcast Price Performance

NASDAQ:CMCSA traded up $0.31 during trading hours on Friday, hitting $33.56. The company’s stock had a trading volume of 25,592,346 shares, compared to its average volume of 25,326,020. The stock has a fifty day simple moving average of $38.80 and a 200-day simple moving average of $40.11. Comcast has a twelve month low of $32.50 and a twelve month high of $47.11. The company has a market capitalization of $128.40 billion, a P/E ratio of 9.03, a PEG ratio of 1.36 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSAGet Free Report) last issued its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.08. Comcast had a return on equity of 19.81% and a net margin of 11.92%. On average, analysts anticipate that Comcast will post 4.25 EPS for the current fiscal year.

Insider Transactions at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now owns 534,849 shares in the company, valued at $22,779,218.91. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. increased its position in shares of Comcast by 77.2% during the second quarter. Centaurus Financial Inc. now owns 14,182 shares of the cable giant’s stock worth $555,000 after acquiring an additional 6,179 shares during the period. Neville Rodie & Shaw Inc. boosted its stake in shares of Comcast by 4.6% during the third quarter. Neville Rodie & Shaw Inc. now owns 14,581 shares of the cable giant’s stock worth $609,000 after buying an additional 645 shares during the period. AMF Tjanstepension AB boosted its stake in shares of Comcast by 18.9% during the third quarter. AMF Tjanstepension AB now owns 832,594 shares of the cable giant’s stock worth $34,810,000 after buying an additional 132,442 shares during the period. Czech National Bank raised its holdings in Comcast by 5.5% during the third quarter. Czech National Bank now owns 786,946 shares of the cable giant’s stock worth $32,871,000 after purchasing an additional 41,061 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Comcast by 211.7% during the third quarter. SG Americas Securities LLC now owns 2,890,571 shares of the cable giant’s stock worth $120,739,000 after purchasing an additional 1,963,246 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Company Profile

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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.

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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