Scotiabank Raises Comcast (NASDAQ:CMCSA) Price Target to $47.75

Comcast (NASDAQ:CMCSA) had its target price upped by Scotiabank from $47.25 to $47.75 in a research note released on Friday morning, Marketbeat Ratings reports. Scotiabank currently has a sector perform rating on the cable giant’s stock.

A number of other research firms have also commented on CMCSA. Pivotal Research reduced their price objective on shares of Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their target price on Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Evercore ISI dropped their price target on Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.58.

Comcast Stock Performance

NASDAQ CMCSA opened at $41.93 on Friday. The company has a market capitalization of $164.52 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.10 and a beta of 1.01. Comcast has a twelve month low of $36.43 and a twelve month high of $47.11. The stock has a fifty day simple moving average of $40.30 and a 200 day simple moving average of $39.44. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company had revenue of $29.69 billion during the quarter, compared to the consensus estimate of $30.02 billion. During the same period last year, the company earned $1.13 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. Sell-side analysts expect that Comcast will post 4.23 EPS for the current year.

Hedge Funds Weigh In On Comcast

A number of hedge funds have recently bought and sold shares of the company. Steph & Co. grew its holdings in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares in the last quarter. Fairscale Capital LLC bought a new position in Comcast in the 2nd quarter valued at $26,000. McClarren Financial Advisors Inc. increased its position in shares of Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the last quarter. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after purchasing an additional 593 shares during the period. Finally, IAG Wealth Partners LLC boosted its holdings in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.