Morgan Stanley Boosts Comcast (CMCSA) Price Target to $50.00

Comcast (NASDAQ:CMCSA) had its price objective increased by equities research analysts at Morgan Stanley from $44.00 to $50.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the cable giant’s stock. Morgan Stanley’s price target would suggest a potential upside of 22.40% from the stock’s previous close.

CMCSA has been the subject of several other research reports. Nomura dropped their price target on shares of Comcast from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, October 27th. KeyCorp reaffirmed a “neutral” rating on shares of Comcast in a research note on Sunday, September 17th. Royal Bank of Canada reaffirmed a “buy” rating and set a $45.00 price target on shares of Comcast in a research note on Wednesday, October 18th. Moffett Nathanson reissued a “buy” rating on shares of Comcast in a research note on Monday, October 16th. Finally, Pivotal Research reissued a “buy” rating and set a $50.00 target price on shares of Comcast in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.15.

Comcast (NASDAQ:CMCSA) traded up $0.37 during mid-day trading on Tuesday, hitting $40.85. 4,909,134 shares of the stock traded hands, compared to its average volume of 17,934,721. The company has a market capitalization of $191,110.00, a P/E ratio of 19.27, a P/E/G ratio of 1.85 and a beta of 1.00. Comcast has a 12-month low of $34.78 and a 12-month high of $42.18. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm had revenue of $20.98 billion during the quarter, compared to the consensus estimate of $21.05 billion. Comcast had a net margin of 11.99% and a return on equity of 17.17%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. sell-side analysts expect that Comcast will post 2.05 earnings per share for the current year.

In other Comcast news, Chairman Brian L. Roberts sold 583,835 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.67, for a total value of $22,576,899.45. Following the completion of the sale, the chairman now directly owns 1,711,798 shares in the company, valued at $66,195,228.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur R. Block sold 3,937 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $40.62, for a total transaction of $159,920.94. Following the completion of the sale, the executive vice president now owns 65,946 shares of the company’s stock, valued at $2,678,726.52. The disclosure for this sale can be found here. Insiders sold 593,402 shares of company stock valued at $22,961,401 over the last 90 days. Corporate insiders own 1.28% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Aurora Investment Counsel acquired a new position in shares of Comcast during the fourth quarter valued at about $2,796,000. Beacon Financial Group acquired a new position in shares of Comcast during the fourth quarter valued at about $397,000. Prudential Financial Inc. grew its holdings in shares of Comcast by 8.2% during the third quarter. Prudential Financial Inc. now owns 13,254,504 shares of the cable giant’s stock valued at $510,034,000 after buying an additional 1,000,292 shares during the last quarter. Atlantic Trust Group LLC grew its holdings in shares of Comcast by 26.2% during the third quarter. Atlantic Trust Group LLC now owns 6,634,844 shares of the cable giant’s stock valued at $255,308,000 after buying an additional 1,376,237 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Comcast by 4.6% during the third quarter. Parametric Portfolio Associates LLC now owns 12,792,729 shares of the cable giant’s stock valued at $492,264,000 after buying an additional 564,805 shares during the last quarter. Institutional investors and hedge funds own 82.13% of the company’s stock.

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About Comcast

Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

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