Comcast (NASDAQ:CMCSA) Stock Rating Lowered by Citigroup

Comcast (NASDAQ:CMCSA) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, The Fly reports.

Several other research firms have also commented on CMCSA. TD Securities reduced their price target on shares of Comcast from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, October 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Comcast from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, December 10th. Morgan Stanley cut their price objective on Comcast from $72.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, December 9th. Wells Fargo & Company lowered their target price on shares of Comcast from $49.00 to $46.00 and set an “underweight” rating for the company in a research note on Friday, October 8th. Finally, Macquarie downgraded shares of Comcast from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $65.00 to $52.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $64.56.

Shares of CMCSA stock opened at $48.76 on Wednesday. Comcast has a 1 year low of $46.29 and a 1 year high of $61.80. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $52.44 and its two-hundred day simple moving average is $55.99. The company has a market cap of $222.78 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94.

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Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 28th. The cable giant reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The business had revenue of $30.30 billion for the quarter, compared to analysts’ expectations of $29.87 billion. Comcast had a return on equity of 14.88% and a net margin of 12.73%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. Equities research analysts expect that Comcast will post 3.21 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its holdings in shares of Comcast by 23.5% during the 2nd quarter. Penserra Capital Management LLC now owns 85,171 shares of the cable giant’s stock valued at $4,856,000 after buying an additional 16,215 shares in the last quarter. Mount Yale Investment Advisors LLC raised its stake in Comcast by 8.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 126,531 shares of the cable giant’s stock valued at $7,215,000 after buying an additional 9,482 shares during the last quarter. DigitalBridge Group Inc. raised its stake in Comcast by 46.6% during the second quarter. DigitalBridge Group Inc. now owns 47,168 shares of the cable giant’s stock valued at $2,690,000 after buying an additional 15,000 shares during the last quarter. Heritage Wealth Advisors raised its stake in shares of Comcast by 13.3% in the second quarter. Heritage Wealth Advisors now owns 327,616 shares of the cable giant’s stock worth $18,681,000 after purchasing an additional 38,360 shares during the last quarter. Finally, National Asset Management Inc. increased its position in Comcast by 10.8% during the second quarter. National Asset Management Inc. now owns 125,190 shares of the cable giant’s stock valued at $7,114,000 after acquiring an additional 12,215 shares during the last quarter. 82.48% of the stock is owned by institutional investors and hedge funds.

About Comcast

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.

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Analyst Recommendations for Comcast (NASDAQ:CMCSA)

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