Comcast (NASDAQ:CMCSA) Given a $58.00 Price Target by Bank of America Analysts

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Bank of America set a $58.00 target price on Comcast (NASDAQ:CMCSA) in a report published on Wednesday, TipRanks reports. The firm currently has a buy rating on the cable giant’s stock.

CMCSA has been the topic of several other reports. Goldman Sachs Group raised shares of Comcast from a neutral rating to a buy rating and raised their price objective for the stock from $44.00 to $54.00 in a research report on Wednesday, July 10th. Morgan Stanley raised their price objective on shares of Comcast from $48.00 to $51.00 and gave the stock an overweight rating in a research report on Friday, July 26th. Macquarie assumed coverage on shares of Comcast in a research report on Wednesday, June 19th. They set a buy rating and a $50.00 price objective on the stock. TD Securities raised their price objective on shares of Comcast from $50.00 to $57.00 and gave the stock a buy rating in a research report on Monday, April 29th. Finally, Pivotal Research reissued a buy rating and set a $54.00 price objective on shares of Comcast in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the stock. Comcast has an average rating of Buy and a consensus price target of $46.25.

Shares of NASDAQ:CMCSA opened at $42.43 on Wednesday. The company’s fifty day moving average price is $43.54 and its 200 day moving average price is $41.59. Comcast has a 12 month low of $32.61 and a 12 month high of $45.29. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $198.93 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.20 and a beta of 1.08.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The firm had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. During the same period last year, the business earned $0.65 EPS. Comcast’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Comcast will post 3.08 EPS for the current year.

In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of Comcast stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $41.46, for a total transaction of $70,523.46. Following the completion of the transaction, the senior vice president now owns 4,712 shares in the company, valued at $195,359.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Daniel C. Murdock sold 848 shares of Comcast stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $44.23, for a total transaction of $37,507.04. Following the transaction, the senior vice president now owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The disclosure for this sale can be found here. 1.35% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CMCSA. Keudell Morrison Wealth Management raised its position in shares of Comcast by 0.8% in the second quarter. Keudell Morrison Wealth Management now owns 32,095 shares of the cable giant’s stock valued at $1,339,000 after buying an additional 252 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Comcast by 0.4% in the second quarter. Treasurer of the State of North Carolina now owns 2,889,842 shares of the cable giant’s stock valued at $122,183,000 after buying an additional 12,070 shares during the last quarter. Nomura Holdings Inc. increased its position in Comcast by 1,343.6% during the second quarter. Nomura Holdings Inc. now owns 990,500 shares of the cable giant’s stock worth $41,709,000 after purchasing an additional 921,889 shares during the last quarter. RFG Advisory LLC acquired a new position in Comcast during the second quarter worth approximately $1,039,000. Finally, BlackRock Inc. increased its position in Comcast by 2.7% during the second quarter. BlackRock Inc. now owns 325,166,060 shares of the cable giant’s stock worth $13,748,022,000 after purchasing an additional 8,635,296 shares during the last quarter. Institutional investors own 82.85% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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