Comcast (NASDAQ:CMCSA) Given New $47.00 Price Target at Pivotal Research

Comcast (NASDAQ:CMCSA) had its price target decreased by analysts at Pivotal Research from $48.00 to $47.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the cable giant’s stock. Pivotal Research’s target price indicates a potential upside of 22.91% from the company’s previous close.

A number of other research firms also recently weighed in on CMCSA. Oppenheimer restated an “outperform” rating and issued a $55.00 price target on shares of Comcast in a research note on Wednesday, April 3rd. Citigroup decreased their target price on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. The Goldman Sachs Group started coverage on Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Evercore ISI dropped their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Comcast presently has a consensus rating of “Hold” and an average target price of $47.28.

Comcast Stock Up 0.4 %

Shares of CMCSA opened at $38.24 on Wednesday. The firm has a 50 day simple moving average of $38.53 and a two-hundred day simple moving average of $40.69. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. Comcast has a one year low of $36.43 and a one year high of $47.46. The company has a market cap of $150.04 billion, a P/E ratio of 10.12, a P/E/G ratio of 0.96 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a return on equity of 20.20% and a net margin of 12.46%. Comcast’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 EPS. Research analysts forecast that Comcast will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.26% of the stock is currently owned by insiders.

Institutional Trading of Comcast

Several large investors have recently made changes to their positions in the company. Bristlecone Advisors LLC raised its position in shares of Comcast by 7.0% during the second quarter. Bristlecone Advisors LLC now owns 58,454 shares of the cable giant’s stock worth $2,289,000 after purchasing an additional 3,846 shares during the period. TFG Advisers LLC raised its holdings in Comcast by 12.0% during the second quarter. TFG Advisers LLC now owns 9,980 shares of the cable giant’s stock worth $391,000 after buying an additional 1,070 shares during the last quarter. First Heartland Consultants Inc. raised its holdings in Comcast by 11.9% during the second quarter. First Heartland Consultants Inc. now owns 8,146 shares of the cable giant’s stock worth $319,000 after buying an additional 868 shares during the last quarter. Harbor Island Capital LLC lifted its stake in shares of Comcast by 17.4% in the second quarter. Harbor Island Capital LLC now owns 171,893 shares of the cable giant’s stock valued at $6,731,000 after buying an additional 25,530 shares in the last quarter. Finally, Easterly Investment Partners LLC acquired a new position in shares of Comcast during the second quarter valued at about $5,613,000. 84.32% of the stock is currently 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.