On Wednesday, Comcast (NASDAQ:CMCSA) stock fell 3.1% and closed at $33.57 with a market cap of $152.8 billion. The stock price has fallen 5.9% in the trailing five-day period, while it has fallen 14.3% in the trailing 12-month period.
Currently, Comcast stock is trading 29.7% below its 52-week high of $47.74 on January 17. The stock was also trading 5.9% above its 52-week low of $31.71 on March 23. On a YTD (year-to-date) basis, the stock has fallen by 25.4% as of Wednesday.
Analysts’ recommendations for Comcast stock
On Thursday, Wells Fargo analyst Jennifer Fritzsche reduced its target price on Comcast stock from $51 to $37. However, the analyst maintained the “overweight” rating on the stock. According to a report from TheFly, “The analyst notes that the Olympics delay, weakening in the European/U.S. advertising landscapes, the closing of all four theme parts and overall macroeconomic concerns are weighing into the global backdrop.” The report also said, “She expects uncertainties to remain, given the fluid nature of the situation, when Comcast reports in late April. Nonetheless, Fritzsche views Comcast’s broadband business to be a defensive and sustainable business in the near-term.”
On Wednesday, Citi analyst Michael Rollins reduced its target price on Comcast stock from $54 to $40 with a “buy” rating.
Among the 37 analysts covering Comcast stock, 27 have a “buy” rating on the stock—down from 29 last month. About ten analysts have a “hold” rating on the stock—up from eight last month. None of the analysts have a “sell” recommendation on the stock.
Currently, analysts have a 12-month target price of $49.27 on Comcast stock. On Wednesday, the stock was trading at a discount of 46.8% to analysts’ 12-month target price. The median target price was $50 on the same date.
Charter Communications (NASDAQ:CHTR) and Dish Network (NASDAQ:DISH) have average broker target prices of $551.10 and $42.41, respectively. These figures imply returns of 31.0% and 105.5%, respectively, over the next 12 months.
Comcast’s growth projection
Comcast reported sales of $28.40 billion in the fourth quarter of 2019—a rise of 2.0% YoY (year-over-year) from sales of $27.85 billion in the fourth quarter of 2018. The company reported an adjusted EPS of $0.79 in the fourth quarter of 2019 compared to $0.64 in the fourth quarter of 2018. Wall Street analysts expected the company to report sales of $28.17 billion and earnings of $0.76 in the fourth quarter of 2019.
In 2019, Comcast lost 733,000 net video customers due to competition from video streaming services like Netflix. However, the company has been focusing on its broadband business amid cord-cutting. Comcast added 1.4 million net high-speed Internet customers last year.
Wall Street analysts expect Comcast to post sales of $27.1 billion in the first quarter. The figure would mark a rise of 1.0% YoY compared to $26.9 billion in the first quarter of 2019. Also, analysts expect the company to post an adjusted EPS of $0.71 in the first quarter compared to $0.76 in the same period last year. Currently, analysts expect a 3.5% and 2.8% rise in the company’s 2020 and 2021 sales, respectively. Meanwhile, they expect an adjusted EPS of $3.09 and $3.35 in 2020 and 2021, respectively.
On Wednesday, Comcast stock was trading 11.0% below its 20-day moving average of $37.70. Meanwhile, the stock is trading 20.1% below its 50-day moving average of $42.04 and 22.3% below its 100-day moving average of $43.22. The stock’s 14-day relative strength index score of 36 indicates that it’s approaching the “oversold” zone.
Comcast has an upper Bollinger Band level of $43.89. The company’s middle Bollinger Band level is $37.99, while its lower Bollinger Band level is $32.10. On Wednesday, Comcast stock closed near its lower Bollinger Band level, which suggests that it’s oversold.
Comcast’s dividend yield was 2.74% on Wednesday. Notably, Dish Network and Charter Communications don’t pay cash dividends.
Comcast stock is trending upward in today’s trading session. The stock rose 2.3% at 11:09 AM ET. Read Comcast Stock Rose on Monday amid Supreme Court Ruling and Why Did Comcast Sell Its Entire Stake in Snap Stock? to learn more. You can also read Comcast Buys Xumo to Boost Its Cable Division for more analysis.