Charter Communications, Inc. (CHTR) Stock Rating Reaffirmed by Royal Bank of Canada
Charter Communications, Inc. (NASDAQ:CHTR)‘s stock had its “buy” rating reissued by equities researchers at Royal Bank of Canada in a research report issued on Thursday. They currently have a $356.00 target price on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.19% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Evercore ISI reiterated an “overweight” rating on shares of Charter Communications in a research report on Monday, February 27th. Moffett Nathanson cut Charter Communications from a “buy” rating to a “neutral” rating and set a $337.00 price target for the company. in a research report on Wednesday, February 22nd. Wells Fargo & Co lowered Charter Communications from an “outperform” rating to a “market perform” rating and set a $335.00 price objective for the company. in a research note on Wednesday, May 3rd. Macquarie reissued a “buy” rating and set a $365.00 price objective on shares of Charter Communications in a research note on Wednesday, April 19th. Finally, SunTrust Banks, Inc. assumed coverage on Charter Communications in a research note on Tuesday, April 18th. They set a “buy” rating and a $380.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $322.49.
Charter Communications (NASDAQ:CHTR) traded up 1.43% during mid-day trading on Thursday, hitting $333.76. The stock had a trading volume of 1,629,823 shares. The firm’s 50-day moving average is $330.10 and its 200 day moving average is $310.16. Charter Communications has a 12 month low of $214.06 and a 12 month high of $350.38. The company has a market cap of $89.29 billion, a price-to-earnings ratio of 22.67 and a beta of 1.04.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.42. The company had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.26 billion. Charter Communications had a net margin of 13.87% and a return on equity of 0.62%. Charter Communications’s revenue for the quarter was up 301.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.68) earnings per share. Equities analysts anticipate that Charter Communications will post $0.60 EPS for the current fiscal year.
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In other Charter Communications news, Director David C. Merritt purchased 1,200 shares of Charter Communications stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $326.31 per share, for a total transaction of $391,572.00. Following the acquisition, the director now directly owns 8,174 shares in the company, valued at $2,667,257.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Hargis sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $325.75, for a total value of $1,954,500.00. Following the transaction, the executive vice president now owns 13,049 shares in the company, valued at approximately $4,250,711.75. The disclosure for this sale can be found here. 1.51% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Burt Wealth Advisors acquired a new position in shares of Charter Communications during the first quarter worth about $115,000. CKW Financial Group increased its position in shares of Charter Communications by 22.1% in the third quarter. CKW Financial Group now owns 552 shares of the company’s stock worth $149,000 after buying an additional 100 shares in the last quarter. Boston Family Office LLC acquired a new position in shares of Charter Communications during the first quarter worth about $202,000. Dowling & Yahnke LLC acquired a new position in shares of Charter Communications during the first quarter worth about $203,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of Charter Communications during the first quarter worth about $206,000. Institutional investors own 79.53% of the company’s stock.
Charter Communications Company Profile
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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