Investing Focus: Traders Keen on Shares of Comcast Corporation (CMCSA), Steelcase Inc. (SCS) – The RNS Daily

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The shares of Comcast Corporation (NASDAQ:CMCSA) advanced by 0.05% or -$-0.02 from its last recorded high of $41.28 which it attained on December 04 to close at $41.3 per share. Over the past 52 weeks, the shares of Comcast Corporation has been trading as low as $30.43 before witnessing a massive surge by 35.72% or $10.87. This price movement has led to the CMCSA stock receiving more attention and has become one to watch out for. It jumped by 0.63% on Sunday and this got the market excited. The stock’s beta now stands at 1.12 and when compared to its 200-day moving average and its 50-day moving average, CMCSA price stands 12.83% above and 6.08% above respectively. Its average daily volatility for this week is 1.15% which is less than the 1.47% recorded over the past month.

Comcast Corporation (CMCSA) rose 2.18% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 24.66% and is now up by 21.29% since start of this year. A look at its monthly performance shows that the stock has recorded a 3.59% gain over the past 30 days. Its equity price climbed by 15.91% over the past three months which led to its overall six-month increase to stand at 20.48%.

Experts from research firms are bullish about the near-term performance of Comcast Corporation with most of them predicting a $44.43 price target on a short-term (12 months) basis. The average price target by the analysts will see a 7.58% rise in the stock and would lead to CMCSA’s market cap to surge to $200.82B. The stock has been rated an average 2.1, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 30 analysts that track Comcast Corporation (NASDAQ:CMCSA) and find out that 7 of them rated it as a Hold. 23 of the 23 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at CMCSA technical analysis shows that its 14-day Relative Strength Index (RSI) is in a overbought zone after reaching 69.61 point. Its trading volume has lost -8320656 shares compared to readings over the past three months as it recently exchanged 11519344 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 19840000 shares, and this is 0.58 times the normal volume.

The price of Steelcase Inc. (NYSE:SCS) currently stands at $15.91 after it went up by $0.1 or 0.63% and has found a strong support at $15.82 a share. If the SCS price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $15.72 mark would also be bad for the stock as it means that the stock would plunge by 1.19% from its current position. However, if the stock price is able to trade above the resistance point around $16, then it could likely surge higher to try and break the upward resistance which stands at $16.09 a share. Its average daily volatility over the past one month stands at 3.15%. The stock has plunged by 0.63% from its 52-weeks high of $15.81 which it reached on Sep. 21, 2018. In general, it is 17.66% above its 52-weeks lowest point which stands at $13.1 and this setback was observed on Feb. 07, 2018.

Analysts have predicted a price target for Steelcase Inc. (SCS) for 1 year and it stands at an average $18.67/share. This means that it would likely increase by 17.35% from its current position. The current price of the stock has been moving between $15.81 and $15.9933. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $17. On the other hand, one analyst is super bullish about the price, setting a target as high as $21.

The SCS stock Stochastic Oscillator (%D) is at 92.51%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 0.58 which compares to the 1.14 recorded by the industry or the 3.09 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 10.85, which is lower than the 15.72 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 25.3% over the past five years.

Analysts view Steelcase Inc. (NYSE:SCS) as a Hold, with 2.2 consensus rating. Reuters surveyed 4 analysts that follow SCS and found that 2 of those analysts rated the stock as a Hold. The remaining 2 were divided, with 2 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Steelcase Inc. (SCS) shares or sell it if they already own it.

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