Comcast (NASDAQ:CMCSA) Given New $30.00 Price Target at New Street Research

Comcast (NASDAQ:CMCSA) had its price target decreased by New Street Research from $31.00 to $30.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the cable giant’s stock. New Street Research’s price objective suggests a potential upside of 30.98% from the stock’s current price.

Several other brokerages have also issued reports on CMCSA. Zacks Research raised Comcast from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Rosenblatt Securities reduced their target price on shares of Comcast from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $29.00 price target on shares of Comcast in a research report on Thursday, April 23rd. Evercore lifted their target price on shares of Comcast from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Citigroup upped their target price on shares of Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Comcast has an average rating of “Hold” and an average target price of $34.46.

Comcast Price Performance

NASDAQ:CMCSA traded up $0.27 during trading hours on Thursday, reaching $22.91. The company had a trading volume of 2,989,378 shares, compared to its average volume of 33,234,285. The stock has a 50-day moving average of $25.50 and a two-hundred day moving average of $28.10. 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 one year low of $22.13 and a one year high of $36.66. The firm has a market capitalization of $81.82 billion, a PE ratio of 4.52, a PEG ratio of 1.86 and a beta of 0.67.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $30.42 billion. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. Analysts forecast that Comcast will post 3.53 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Imprint Wealth LLC acquired a new stake in shares of Comcast during the third quarter worth about $26,000. United Financial Planning Group LLC acquired a new position in shares of Comcast in the 3rd quarter valued at approximately $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Comcast in the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC increased its stake in Comcast by 75.5% during the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock worth $27,000 after purchasing an additional 401 shares in the last quarter. Finally, Main Street Group LTD bought a new stake in shares of Comcast during the first quarter worth $27,000. 84.32% of the stock is owned by institutional investors and hedge funds.

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.