Comcast (NASDAQ:CMCSA) Trading Down 6.2%

Comcast Co. (NASDAQ:CMCSA)’s share price was down 6.2% during mid-day trading on Thursday . The company traded as low as $37.19 and last traded at $37.73. Approximately 12,071,580 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 20,512,375 shares. The stock had previously closed at $40.21.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Redburn Atlantic cut Comcast from a “buy” rating to a “neutral” rating and reduced their target price for the company from $50.00 to $44.00 in a report on Thursday, February 15th. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 3rd. Finally, Evercore ISI reiterated an “outperform” rating and set a $50.00 target price on shares of Comcast in a report on Tuesday, March 26th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.74.

Comcast Stock Down 5.8 %

The firm has a market cap of $150.41 billion, a P/E ratio of 10.14, a PEG ratio of 0.98 and a beta of 0.98. The firm’s 50-day moving average price is $41.72 and its 200 day moving average price is $42.64. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.60 and a quick ratio of 0.60.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, January 25th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The company had revenue of $31.25 billion for the quarter, compared to the consensus estimate of $30.41 billion. On average, equities research analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comcast

Hedge funds have recently made changes to their positions in the business. Everett Harris & Co. CA grew its stake in shares of Comcast by 7.7% in the fourth quarter. Everett Harris & Co. CA now owns 1,687,406 shares of the cable giant’s stock worth $73,993,000 after purchasing an additional 121,279 shares in the last quarter. Desjardins Global Asset Management Inc. increased its stake in Comcast by 1.5% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after buying an additional 1,486 shares during the period. Altus Wealth Group LLC raised its position in shares of Comcast by 8.3% during the 4th quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock worth $823,000 after buying an additional 1,432 shares in the last quarter. PFG Advisors lifted its stake in shares of Comcast by 28.8% in the 4th quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock worth $1,012,000 after acquiring an additional 5,159 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of Comcast in the third quarter valued at approximately $8,868,000. Institutional investors own 84.32% of the company’s stock.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.