Comcast (NASDAQ:CMCSA) Lowered to Neutral at Bank of America

Bank of America downgraded shares of Comcast (NASDAQ:CMCSA – Get Rating) from a buy rating to a neutral rating in a report published on Friday, The Fly reports. The brokerage currently has $50.00 price target on the cable giant’s stock, down from their previous price target of $67.00.

Several other research analysts have also recently issued reports on CMCSA. Truist Financial cut shares of Comcast from a buy rating to a hold rating and dropped their target price for the stock from $70.00 to $50.00 in a report on Tuesday, March 1st. Rosenblatt Securities assumed coverage on shares of Comcast in a research report on Tuesday, April 19th. They set a neutral rating and a $51.00 price target for the company. TD Securities increased their price target on shares of Comcast from $69.00 to $70.00 and gave the company a buy rating in a research report on Friday, January 28th. JPMorgan Chase & Co. decreased their price target on shares of Comcast from $60.00 to $52.00 in a research report on Friday. Finally, Barclays decreased their price target on shares of Comcast from $56.00 to $48.00 in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Comcast currently has a consensus rating of Buy and an average price target of $59.65.

CMCSA stock opened at $39.76 on Friday. The firm’s fifty day simple moving average is $46.48 and its two-hundred day simple moving average is $49.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $180.24 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Comcast has a twelve month low of $39.61 and a twelve month high of $61.80.

Comcast (NASDAQ:CMCSA – Get Rating) last issued its earnings results on Thursday, April 28th. The cable giant reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.06. Comcast had a net margin of 12.17% and a return on equity of 15.61%. The company had revenue of $31.01 billion for the quarter, compared to analysts’ expectations of $30.40 billion. During the same period in the prior year, the business earned $0.76 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts expect that Comcast will post 3.52 EPS for the current year.

In other Comcast news, CEO David N. Watson sold 65,410 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $45.69, for a total value of $2,988,582.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.35% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Comcast during the 3rd quarter worth $26,000. AHL Investment Management Inc. purchased a new position in shares of Comcast during the 4th quarter worth $30,000. Sandy Cove Advisors LLC purchased a new position in shares of Comcast during the 4th quarter worth $31,000. Core Alternative Capital raised its holdings in shares of Comcast by 86.9% during the 4th quarter. Core Alternative Capital now owns 684 shares of the cable giant’s stock worth $34,000 after acquiring an additional 318 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of Comcast during the 4th quarter worth $36,000. Institutional investors and hedge funds own 82.58% of the company’s stock.

Comcast Company Profile (Get Rating)

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

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