Wells Fargo & Company Issues Pessimistic Forecast for Comcast (NASDAQ:CMCSA) Stock Price

Comcast (NASDAQ:CMCSA) had its price target dropped by investment analysts at Wells Fargo & Company from $45.00 to $37.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the cable giant’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.94% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. TD Cowen decreased their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 17th. BNP Paribas upgraded shares of Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price target for the company in a research note on Friday. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Benchmark reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Comcast in a report on Tuesday, November 19th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.11.

Comcast Stock Performance

NASDAQ CMCSA traded up $0.41 on Friday, hitting $33.66. 9,330,715 shares of the company’s stock traded hands, compared to its average volume of 24,483,641. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $38.80 and its two-hundred day moving average price is $40.11. Comcast has a 1-year low of $32.50 and a 1-year high of $47.11. The firm has a market capitalization of $128.78 billion, a PE ratio of 9.05, a P/E/G ratio of 1.36 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a net margin of 11.92% and a return on equity of 19.81%. As a group, analysts expect that Comcast will post 4.25 EPS for the current year.

Insider Buying and Selling at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the sale, the president now owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Institutional Investors Weigh In On Comcast

A number of hedge funds have recently modified their holdings of the stock. Winch Advisory Services LLC boosted its position in shares of Comcast by 269.9% during the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after buying an additional 502 shares during the last quarter. Roxbury Financial LLC bought a new stake in Comcast in the 4th quarter worth approximately $27,000. Wingate Wealth Advisors Inc. bought a new position in Comcast during the fourth quarter valued at $28,000. McClarren Financial Advisors Inc. grew its position in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Comcast during the 3rd quarter valued at $30,000. 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.