Bank of America Upgrades Comcast (NASDAQ:CMCSA) to Buy

Comcast (NASDAQ:CMCSA) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $37.00 target price on the cable giant’s stock. Bank of America‘s target price suggests a potential upside of 30.42% from the company’s previous close.

Several other research analysts also recently issued reports on CMCSA. Arete downgraded Comcast from a “neutral” rating to a “sell” rating and set a $23.00 price objective on the stock. in a report on Tuesday, January 6th. Evercore ISI dropped their target price on Comcast from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Loop Capital cut their price target on Comcast from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. BNP Paribas upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a research report on Tuesday, November 4th. Finally, Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.27.

Comcast Stock Up 0.6%

Shares of NASDAQ CMCSA opened at $28.37 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. The company has a market cap of $103.38 billion, a price-to-earnings ratio of 4.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.81. Comcast has a 12-month low of $25.75 and a 12-month high of $38.40. The firm’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $31.01.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share (EPS) for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company had revenue of $30.34 billion for the quarter. On average, research analysts expect that Comcast will post 4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comcast

Several hedge funds have recently bought and sold shares of CMCSA. Capital A Wealth Management LLC raised its position in shares of Comcast by 173.7% during the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock worth $25,000 after purchasing an additional 436 shares during the period. Imprint Wealth LLC bought a new position in Comcast in the third quarter valued at approximately $26,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Comcast by 86.0% in the second quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after buying an additional 350 shares during the period. Global Trust Asset Management LLC increased its position in shares of Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after acquiring an additional 671 shares in the last quarter. Finally, Avalon Trust Co raised its holdings in shares of Comcast by 433.3% during the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after acquiring an additional 624 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.