Charter Communications’s “Neutral” Rating Reiterated at Zacks (CHTR)
Charter Communications (NASDAQ:CHTR)‘s stock had its “neutral” rating reissued by Zacks in a report issued on Monday. They currently have a $163.00 target price on the stock. Zacks‘s price target points to a potential upside of 4.87% from the company’s current price.
Zacks’ analyst wrote, “We reiterate our long-trm Neutral recommendation on Charter Communications. The company reported mixed financial results for the second quarter of 2014. While net income significantly fell below the Zacks Consensus Estimate, total revenue was in line with the same. Unlike most of the cable TV operators, the company improved its video, Internet and telephony subscribers churn rate year-over-year in the reported quarter and its average revenue per user also increased 1.93% year over year. Digital penetration rate was 96.1%. We believe that Charter Communications recent agreement to take over cable TV customers from Comcast will significantly benefit the company over the long-term. Meanwhile, the stock price has soared more than 33% in the last year and is currently trading at the high-end of 52-week price range. We believe that Charter Communications is fairly valued at this stage.”
Shares of Charter Communications (NASDAQ:CHTR) traded down 0.35% on Monday, hitting $154.88. 116,184 shares of the company’s stock traded hands. Charter Communications has a 1-year low of $116.78 and a 1-year high of $167.30. The stock has a 50-day moving average of $158.7 and a 200-day moving average of $140.9. The company’s market cap is $16.827 billion.
Charter Communications (NASDAQ:CHTR) last announced its earnings results on Thursday, July 31st. The company reported ($0.42) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.18 by $0.60. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company posted ($0.96) earnings per share. Charter Communications’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Charter Communications will post $-0.31 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CHTR. Analysts at Telsey Advisory Group raised their price target on shares of Charter Communications from $142.00 to $187.00 in a research note on Thursday. They now have a “not rated” rating on the stock. Separately, analysts at Wunderlich raised their price target on shares of Charter Communications from $173.00 to $197.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Finally, analysts at ISI Group raised their price target on shares of Charter Communications from $145.00 to $180.00 in a research note on Monday, July 21st. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Charter Communications has an average rating of “Hold” and an average price target of $149.62.
Charter Communications, Inc (NASDAQ:CHTR) provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers.
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