Evercore ISI Lowers Comcast (NASDAQ:CMCSA) Price Target to $48.00

Comcast (NASDAQ:CMCSA) had its price objective reduced by Evercore ISI from $50.00 to $48.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the cable giant’s stock. Evercore ISI’s target price would indicate a potential upside of 26.15% from the stock’s current price.

CMCSA has been the subject of several other reports. The Goldman Sachs Group assumed coverage on shares of Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price for the company. Citigroup dropped their target price on shares of Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Comcast in a research report on Monday, May 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a report on Friday, April 26th. Finally, Scotiabank decreased their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.53.

Comcast Price Performance

NASDAQ:CMCSA opened at $38.05 on Tuesday. Comcast has a 52 week low of $36.43 and a 52 week high of $47.46. The firm has a market cap of $149.29 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.98 and a beta of 1.00. The firm’s 50-day simple moving average is $38.62 and its 200 day simple moving average is $41.28. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. During the same period last year, the firm earned $0.92 earnings per share. Comcast’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Comcast will post 4.21 earnings per share for the current year.

Insider Activity

In other news, major shareholder Corp Comcast sold 3,176,923 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now directly owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.26% of the company’s stock.

Institutional Investors Weigh In On Comcast

Institutional investors have recently modified their holdings of the company. Luken Investment Analytics LLC lifted its position in shares of Comcast by 258.0% during the 1st quarter. Luken Investment Analytics LLC now owns 580 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 418 shares during the period. Steph & Co. lifted its position in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares during the period. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Comcast by 299.1% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after acquiring an additional 475,675 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in shares of Comcast during the 4th quarter valued at $28,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Comcast during the 4th quarter valued at $32,000. 84.32% of the stock is owned by institutional investors.

About Comcast

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.