Charter Communications, Inc. (CHTR) Price Target Raised to $365.00 at Morgan Stanley
Charter Communications, Inc. (NASDAQ:CHTR) had its price target lifted by stock analysts at Morgan Stanley from $350.00 to $365.00 in a research report issued to clients and investors on Monday. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 6.57% from the stock’s previous close.
Other analysts also recently issued reports about the company. BidaskClub upgraded Charter Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Wells Fargo & Company restated a “market perform” rating on shares of Charter Communications in a research report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Charter Communications in a research report on Wednesday, June 28th. CIBC initiated coverage on Charter Communications in a research report on Friday, June 2nd. They set a “market perform” rating for the company. Finally, Oppenheimer Holdings, Inc. initiated coverage on Charter Communications in a research report on Thursday, June 1st. They set a “market perform” rating for the company. Eleven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Charter Communications has an average rating of “Buy” and an average target price of $333.92.
Shares of Charter Communications (NASDAQ:CHTR) traded down 0.14% during mid-day trading on Monday, hitting $342.31. The stock had a trading volume of 967,082 shares. The stock’s 50-day moving average price is $333.25 and its 200 day moving average price is $322.27. The company has a market capitalization of $91.58 billion, a P/E ratio of 23.25 and a beta of 1.07. Charter Communications has a 1-year low of $227.63 and a 1-year high of $355.00.
Charter Communications (NASDAQ:CHTR) last released its 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 for the quarter, compared to the consensus estimate of $10.26 billion. Charter Communications had a net margin of 10.55% and a return on equity of 1.41%. The business’s revenue was up 301.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.68) earnings per share. On average, analysts predict that Charter Communications will post $0.60 EPS for the current fiscal year.
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In other news, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $323.62, for a total value of $323,620.00. Following the completion of the sale, the director now owns 13,436 shares of the company’s stock, valued at $4,348,158.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David C. Merritt purchased 1,200 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was bought at an average cost of $326.31 per share, with a total value of $391,572.00. Following the purchase, the director now owns 8,174 shares of the company’s stock, valued at approximately $2,667,257.94. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in Charter Communications by 8.4% in the first quarter. Creative Planning now owns 4,632 shares of the company’s stock valued at $1,516,000 after buying an additional 358 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Charter Communications by 4.5% in the first quarter. Raymond James Trust N.A. now owns 741 shares of the company’s stock valued at $242,000 after buying an additional 32 shares in the last quarter. Trust Co acquired a new stake in Charter Communications during the fourth quarter valued at approximately $200,000. Chevy Chase Trust Holdings Inc. boosted its stake in Charter Communications by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 186,382 shares of the company’s stock valued at $61,005,000 after buying an additional 4,496 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Charter Communications during the fourth quarter valued at approximately $5,039,000. 74.47% of the stock is owned by institutional investors and hedge funds.
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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