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

Comcast (NASDAQ:CMCSA) had its price target dropped by equities researchers at Freedom Broker from $29.00 to $25.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the cable giant’s stock. Freedom Broker‘s target price would suggest a potential upside of 13.27% from the stock’s previous close.

Several other brokerages have also recently commented on CMCSA. Seaport Research Partners upgraded shares of Comcast from a “neutral” rating to a “buy” rating in a research report on Thursday, July 2nd. Citigroup reduced their price objective on shares of Comcast from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Thursday, September 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Comcast in a research note on Monday, October 19th. Wells Fargo & Company set a $23.00 target price on shares of Comcast and gave the stock an “underweight” rating in a report on Friday, July 24th. Finally, Scotiabank cut their target price on shares of Comcast from $29.00 to $27.50 and set a “sector perform” rating for the company in a research note on Friday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.37.

Comcast Price Performance

Shares of CMCSA stock traded down $0.62 during mid-day trading on Monday, hitting $22.07. 26,689,473 shares of the stock traded hands, compared to its average volume of 32,792,340. Comcast has a twelve month low of $20.48 and a twelve month high of $32.85. The firm has a market cap of $78.32 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68. The company’s 50-day simple moving average is $23.80 and its 200-day simple moving average is $24.61. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.82.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, October 22nd. The cable giant reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.08. Comcast had a return on equity of 14.64% and a net margin of 9.20%. The business had revenue of $29.30 billion during the quarter, compared to analyst estimates of $29.22 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts expect that Comcast will post 3.52 earnings per share for the current year.

Institutional Trading of Comcast

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whipplewood Advisors LLC lifted its stake in Comcast by 75.5% during the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after buying an additional 401 shares in the last quarter. Main Street Group LTD acquired a new stake in shares of Comcast during the first quarter valued at approximately $27,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Comcast during the first quarter valued at approximately $32,000. Financial Freedom LLC lifted its position in shares of Comcast by 72.8% in the 1st quarter. Financial Freedom LLC now owns 1,104 shares of the cable giant’s stock valued at $32,000 after acquiring an additional 465 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new stake in shares of Comcast in the 2nd quarter valued at approximately $26,000. Institutional investors and hedge funds own 84.32% of the company’s stock.

About Comcast

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.