August 9, 2022

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Comcast (NASDAQ:CMCSA) Downgraded by Truist Financial to Hold

Comcast (NASDAQ:CMCSA) Downgraded by Truist Financial to Hold

Comcast (NASDAQ:CMCSA – Get Rating) was downgraded by investment analysts at Truist Financial from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Briefing.com reports.

Other analysts also recently issued reports about the stock. Macquarie downgraded shares of Comcast from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $52.00 in a report on Tuesday, December 14th. Barclays reduced their price target on shares of Comcast from $60.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, January 28th. Citigroup downgraded shares of Comcast from a “buy” rating to a “neutral” rating and reduced their price target for the company from $60.00 to $53.00 in a report on Wednesday, December 15th. JPMorgan Chase & Co. reduced their price target on shares of Comcast from $64.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, December 9th. Finally, Royal Bank of Canada raised shares of Comcast from a “sector perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Monday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Comcast presently has a consensus rating of “Buy” and a consensus target price of $63.28.

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Comcast stock opened at $46.76 on Tuesday. The firm has a market cap of $211.97 billion, a PE ratio of 15.43, a P/E/G ratio of 0.93 and a beta of 0.91. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day moving average price is $49.29 and its two-hundred day moving average price is $52.82. Comcast has a twelve month low of $44.27 and a twelve month high of $61.80.

Comcast (NASDAQ:CMCSA – Get Rating) last announced its quarterly earnings results on Thursday, January 27th. The cable giant reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Comcast had a net margin of 12.17% and a return on equity of 15.61%. The company had revenue of $30.34 billion for the quarter, compared to analyst estimates of $29.63 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Comcast’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that Comcast will post 3.59 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley boosted its position in shares of Comcast by 10.9% in the second quarter. Morgan Stanley now owns 40,850,065 shares of the cable giant’s stock valued at $2,329,271,000 after acquiring an additional 3,998,777 shares during the period. Boothbay Fund Management LLC grew its stake in Comcast by 4.8% during the second quarter. Boothbay Fund Management LLC now owns 12,700 shares of the cable giant’s stock worth $724,000 after buying an additional 579 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Comcast by 4.9% during the second quarter. 1832 Asset Management L.P. now owns 6,198,542 shares of the cable giant’s stock worth $350,040,000 after buying an additional 291,609 shares in the last quarter. Pacitti Group Inc. grew its stake in Comcast by 3.8% during the second quarter. Pacitti Group Inc. now owns 28,715 shares of the cable giant’s stock worth $1,637,000 after buying an additional 1,048 shares in the last quarter. Finally, Pacific Center for Financial Services grew its stake in Comcast by 11.6% during the second quarter. Pacific Center for Financial Services now owns 7,490 shares of the cable giant’s stock worth $427,000 after buying an additional 776 shares in the last quarter. Institutional investors own 82.58% of the company’s stock.

Comcast Company Profile (Get Rating)

Comcast Corp. is a media, entertainment, and communications company, which engages in the provision of video, Internet, and phone services. It operates through the following segments: Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks and Sky. The Cable Communications segment provides video, Internet, voice, and security and automation services under the Xfinity brand.

Further Reading

Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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