Comcast (NASDAQ:CMCSA) Given New $43.00 Price Target at Wells Fargo & Company

Comcast (NASDAQ:CMCSA) had its price objective lowered by analysts at Wells Fargo & Company from $47.00 to $43.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the cable giant’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 14.42% from the stock’s current price.

A number of other analysts also recently issued reports on CMCSA. BNP Paribas reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Redburn Atlantic lowered Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $50.00 to $44.00 in a research note on Thursday, February 15th. Evercore ISI restated an “outperform” rating and issued a $50.00 price objective on shares of Comcast in a research note on Tuesday, March 26th. Finally, StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Comcast currently has an average rating of “Moderate Buy” and an average target price of $49.45.

Comcast Stock Performance

CMCSA stock opened at $37.58 on Friday. The business’s 50-day moving average price is $41.64 and its two-hundred day moving average price is $42.61. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.14. The firm has a market cap of $149.26 billion, a PE ratio of 10.18, a P/E/G ratio of 0.98 and a beta of 0.98. Comcast has a 1-year low of $37.19 and a 1-year high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. Comcast had a return on equity of 19.75% and a net margin of 12.66%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, research analysts forecast that Comcast will post 4.23 earnings per share for the current year.

Insider Transactions at Comcast

In other news, President Michael J. Cavanagh sold 114,749 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $46.10, for a total value of $5,289,928.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital World Investors boosted its position in Comcast by 17.0% during the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after buying an additional 15,625,543 shares during the period. Norges Bank bought a new stake in shares of Comcast during the fourth quarter valued at approximately $2,542,988,000. Northern Trust Corp increased its position in shares of Comcast by 0.3% during the third quarter. Northern Trust Corp now owns 46,019,891 shares of the cable giant’s stock valued at $2,040,522,000 after acquiring an additional 141,874 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Comcast by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 36,170,191 shares of the cable giant’s stock worth $1,603,786,000 after purchasing an additional 1,229,374 shares during the last quarter. Finally, Harris Associates L P boosted its holdings in Comcast by 10.9% in the fourth quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock worth $827,616,000 after purchasing an additional 1,854,671 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Comcast Company Profile

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.