Scotiabank Has Lowered Expectations for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its target price dropped by investment analysts at Scotiabank from $29.00 to $27.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the cable giant’s stock. Scotiabank’s target price points to a potential upside of 27.58% from the company’s previous close.

A number of other brokerages have also commented on CMCSA. Weiss Ratings lowered shares of Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Morgan Stanley lowered their target price on Comcast from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Deutsche Bank Aktiengesellschaft raised Comcast from a “hold” rating to a “buy” rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Tuesday, June 30th. Wells Fargo & Company set a $23.00 target price on Comcast and gave the company an “underweight” rating in a report on Friday, July 24th. Finally, Citigroup lowered their target price on shares of Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Thursday, September 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.00.

Comcast Price Performance

CMCSA traded down $0.14 on Friday, reaching $21.55. The stock had a trading volume of 3,812,319 shares, compared to its average volume of 32,750,426. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $76.49 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 1.56 and a beta of 0.69. Comcast has a fifty-two week low of $21.28 and a fifty-two week high of $32.85. The firm has a 50-day moving average of $24.79 and a 200-day moving average of $25.42.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 23rd. The cable giant reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Comcast will post 3.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Comcast by 3.4% during the fourth quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock worth $5,583,604,000 after purchasing an additional 6,117,946 shares during the period. Capital World Investors raised its holdings in Comcast by 20.8% during the fourth quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock worth $4,194,929,000 after buying an additional 24,166,881 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Comcast by 65.1% in the fourth quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant’s stock valued at $1,663,825,000 after buying an additional 21,958,603 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Comcast by 10.0% during the fourth quarter. Invesco Ltd. now owns 43,332,228 shares of the cable giant’s stock valued at $1,295,200,000 after buying an additional 3,952,642 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Comcast by 10.2% during the first quarter. Bank of America Corp DE now owns 40,864,921 shares of the cable giant’s stock worth $1,173,232,000 after acquiring an additional 3,783,234 shares in the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a global media and communications company headquartered in Philadelphia, Pennsylvania. Its businesses include broadband internet, wireless services, video, voice, and business connectivity services, primarily marketed under the Xfinity brand in the United States. Comcast also provides advertising and related technology services to businesses and media organizations.

Through NBCUniversal, Comcast operates national and local television networks, broadcast network NBC, Spanish-language network Telemundo, the Peacock streaming service, and a portfolio of film and television production businesses.