- KeyBanc analyst Brandon Nispel downgraded Comcast (NASDAQ: CMCSA) stock to an “Underweight” rating, setting a new price target of $18.00 per share.
- Comcast stock has recently underperformed the market, with shares falling 1.86% in the last trading session and 17.10% over the past month.
- Analysts project a decrease in upcoming quarterly earnings per share (EPS) to $0.99 and revenue to $29.48 billion, signaling potential headwinds for the media and technology stock.
Comcast is a major global media and technology company. Its business includes providing internet, video, and phone services to millions of customers. Through its ownership of NBCUniversal, it also operates television networks, a major film studio, and theme parks, competing with firms like Disney, AT&T, and Verizon.
Reflecting a cautious investment outlook, KeyBanc analyst Brandon Nispel has issued a stock downgrade for Comcast, moving Comcast stock to an “Underweight” rating. This type of rating suggests that an analyst expects the stock to perform worse than the average return of other stocks in its market sector over the next several months.
The analyst also set a new price target for Comcast at $18.00 per share. A price target is an analyst’s estimate of a stock’s future value. This new target was about 18.66% below the stock’s trading price of $22.13 at the time of the announcement, indicating a negative outlook.
This sentiment is mirrored in Comcast’s recent stock activity. As highlighted by Zacks Investment Research, Comcast’s shares fell 1.86% in the last trading session, a steeper drop than the S&P 500’s 0.03% loss. Over the past month, the Comcast stock has fallen 17.10%, underperforming the market.
Investors are now looking toward Comcast’s upcoming earnings report. Analysts project earnings per share (EPS) of $0.99, which would be an 11.61% decrease compared to the same quarter last year. Quarterly revenue is also estimated to drop 5.50% to $29.48 billion, signaling potential headwinds for the telecommunications giant.
