Comcast (NASDAQ:CMCSA) Rating Lowered to “Buy” at StockNews.com

Comcast (NASDAQ:CMCSA) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other brokerages have also issued reports on CMCSA. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $47.75 to $48.00 in a report on Friday, November 1st. Loop Capital decreased their target price on shares of Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, November 1st. KeyCorp lifted their target price on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company increased their price target on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.39.

Comcast Stock Performance

NASDAQ:CMCSA opened at $37.67 on Friday. Comcast has a 52 week low of $36.43 and a 52 week high of $47.11. The company has a fifty day simple moving average of $41.25 and a two-hundred day simple moving average of $40.30. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The company has a market cap of $144.15 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the prior year, the business earned $1.08 EPS. Comcast’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Comcast will post 4.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This trade represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the transaction, the president now owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CMCSA. Fairscale Capital LLC acquired a new stake in shares of Comcast during the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Comcast in the 2nd quarter valued at $27,000. McClarren Financial Advisors Inc. increased its stake in Comcast by 365.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Comcast during the 3rd quarter worth about $30,000. Finally, Iron Horse Wealth Management LLC lifted its stake in Comcast by 220.3% during the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after buying an additional 522 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

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.