Comcast (NASDAQ:CMCSA) Trading 1.7% Higher on Better-Than-Expected Earnings

Comcast Co. (NASDAQ:CMCSA)’s share price traded up 1.7% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $38.54 and last traded at $38.50. 9,578,640 shares were traded during trading, a decline of 54% from the average session volume of 20,703,502 shares. The stock had previously closed at $37.87.

The cable giant reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 EPS.

Analysts Set New Price Targets

Several brokerages have weighed in on CMCSA. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and cut their price target for the company from $50.00 to $44.00 in a report on Thursday, February 15th. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a report on Wednesday, April 10th. Scotiabank cut their price objective on Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a report on Friday. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Friday. Finally, StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Comcast presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

Insider Buying and Selling at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On Comcast

A number of institutional investors have recently bought and sold shares of CMCSA. Everett Harris & Co. CA boosted 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 valued at $73,993,000 after buying an additional 121,279 shares during the period. Desjardins Global Asset Management Inc. increased its holdings in Comcast by 1.5% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 101,182 shares of the cable giant’s stock valued at $4,438,000 after purchasing an additional 1,486 shares during the period. Altus Wealth Group LLC increased its holdings in Comcast by 8.3% in the fourth quarter. Altus Wealth Group LLC now owns 18,761 shares of the cable giant’s stock valued at $823,000 after purchasing an additional 1,432 shares during the period. PFG Advisors increased its holdings in Comcast by 28.8% in the fourth quarter. PFG Advisors now owns 23,073 shares of the cable giant’s stock valued at $1,012,000 after purchasing an additional 5,159 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in Comcast during the 3rd quarter worth about $8,868,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

The stock has a market capitalization of $153.19 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.92 and a beta of 0.98. The stock has a fifty day simple moving average of $41.58 and a two-hundred day simple moving average of $42.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.60 and a current ratio of 0.59.

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.