Comcast (NASDAQ:CMCSA) Shares Down 1.7% After Analyst Downgrade

Comcast Co. (NASDAQ:CMCSA)’s stock price dropped 1.7% during trading on Tuesday after Citigroup lowered their price target on the stock from $53.00 to $48.00. Citigroup currently has a buy rating on the stock. Comcast traded as low as $37.84 and last traded at $38.20. Approximately 3,353,687 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 20,666,600 shares. The stock had previously closed at $38.85.

CMCSA has been the subject of several other research reports. Redburn Atlantic downgraded Comcast from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Friday. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Comcast in a research report on Wednesday, April 10th. Scotiabank cut their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a report on Friday. Finally, StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a report 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CMCSA. Joel Isaacson & Co. LLC raised its stake in shares of Comcast by 1.8% during the first quarter. Joel Isaacson & Co. LLC now owns 162,148 shares of the cable giant’s stock worth $7,029,000 after acquiring an additional 2,828 shares in the last quarter. Vest Financial LLC purchased a new position in Comcast in the 1st quarter worth $638,000. Signet Investment Advisory Group Inc. raised its position in Comcast by 14.9% in the 1st quarter. Signet Investment Advisory Group Inc. now owns 36,301 shares of the cable giant’s stock worth $1,574,000 after purchasing an additional 4,698 shares during the period. Arkadios Wealth Advisors lifted its stake in Comcast by 8.8% in the first quarter. Arkadios Wealth Advisors now owns 13,119 shares of the cable giant’s stock worth $569,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Tandem Investment Advisors Inc. boosted its position in Comcast by 4.2% during the first quarter. Tandem Investment Advisors Inc. now owns 2,249,014 shares of the cable giant’s stock valued at $97,495,000 after buying an additional 90,568 shares during the period. Institutional investors own 84.32% of the company’s stock.

Comcast Stock Down 1.9 %

The company has a debt-to-equity ratio of 1.13, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a 50 day moving average price of $41.54 and a 200-day moving average price of $42.51. The stock has a market capitalization of $151.45 billion, a P/E ratio of 10.11, a PEG ratio of 0.95 and a beta of 0.98.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. As a group, research analysts expect that Comcast Co. will post 4.21 EPS for the current fiscal year.

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.