Charter Communications’ (CHTR) “Market Perform” Rating Reaffirmed at Wells Fargo & Company
Charter Communications, Inc. (NASDAQ:CHTR)‘s stock had its “market perform” rating reiterated by equities researchers at Wells Fargo & Company in a research note issued on Wednesday.
CHTR has been the subject of a number of other research reports. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Charter Communications in a report on Wednesday. Macquarie reissued a “buy” rating and issued a $365.00 price target on shares of Charter Communications in a report on Tuesday, May 2nd. Deutsche Bank AG lowered their target price on shares of Charter Communications from $400.00 to $390.00 and set a “buy” rating for the company in a report on Thursday, May 4th. SunTrust Banks, Inc. started coverage on shares of Charter Communications in a report on Tuesday, April 18th. They set a “buy” rating and a $380.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $356.00 target price on shares of Charter Communications in a report on Friday, April 21st. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $327.67.
Charter Communications (NASDAQ:CHTR) traded up 2.6893% during trading on Wednesday, hitting $338.7412. The stock had a trading volume of 559,611 shares. The company has a market cap of $90.63 billion, a PE ratio of 23.0076 and a beta of 1.11. The stock has a 50-day moving average price of $332.03 and a 200-day moving average price of $320.04. Charter Communications has a 52 week low of $214.06 and a 52 week high of $355.00.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.42. The company had revenue of $10.16 billion during the quarter, compared to analyst estimates of $10.26 billion. Charter Communications had a net margin of 10.55% and a return on equity of 2.13%. The business’s revenue for the quarter was up 301.7% on a year-over-year basis. During the same period in the prior year, the business earned ($1.68) EPS. Equities analysts predict that Charter Communications will post $0.60 EPS for the current year.
In other news, EVP Jonathan Hargis sold 6,000 shares of Charter Communications stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $325.75, for a total transaction of $1,954,500.00. Following the transaction, the executive vice president now directly owns 13,049 shares of the company’s stock, valued at $4,250,711.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David C. Merritt purchased 1,200 shares of Charter Communications stock in a transaction dated Thursday, May 11th. The shares were purchased at an average cost of $326.31 per share, for a total transaction of $391,572.00. Following the completion of the transaction, the director now owns 8,174 shares of the company’s stock, valued at $2,667,257.94. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Dodge & Cox purchased a new position in shares of Charter Communications during the fourth quarter worth $2,981,844,000. Addison Capital Co boosted its stake in Charter Communications by 229.7% in the first quarter. Addison Capital Co now owns 5,216 shares of the company’s stock valued at $1,707,000 after buying an additional 3,634 shares in the last quarter. Round Hill Asset Management bought a new stake in Charter Communications during the fourth quarter valued at approximately $6,814,000. GLG LLC boosted its stake in Charter Communications by 6.8% in the fourth quarter. GLG LLC now owns 12,858 shares of the company’s stock valued at $3,702,000 after buying an additional 817 shares in the last quarter. Finally, Westport Asset Management Inc. bought a new stake in Charter Communications during the fourth quarter valued at approximately $1,169,000. 74.49% of the stock is currently owned by institutional investors.
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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