Charter Communications, Inc. (NASDAQ:CHTR) Given New $420.00 Price Target at Royal Bank Of Canada
Charter Communications, Inc. (NASDAQ:CHTR) had its target price upped by investment analysts at Royal Bank Of Canada from $356.00 to $420.00 in a report issued on Monday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 9.20% from the company’s previous close.
Several other research firms have also commented on CHTR. BidaskClub raised shares of Charter Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating and set a $410.00 target price (up from $390.00) on shares of Charter Communications in a research note on Monday, July 31st. CIBC started coverage on shares of Charter Communications in a research note on Friday, June 2nd. They set a “market perform” rating for the company. Oppenheimer Holdings, Inc. started coverage on shares of Charter Communications in a research note on Thursday, June 1st. They set a “market perform” rating for the company. Finally, Pivotal Research reissued a “buy” rating on shares of Charter Communications in a research note on Sunday, July 30th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Charter Communications presently has an average rating of “Buy” and a consensus target price of $351.91.
Charter Communications (NASDAQ:CHTR) last released its earnings results on Thursday, July 27th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.81 by $0.29. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.38 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis.
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In related news, Director David C. Merritt acquired 1,200 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $326.31 per share, for a total transaction of $391,572.00. Following the purchase, the director now owns 8,174 shares in the company, valued at $2,667,257.94. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Hargis sold 6,000 shares of the company’s stock in a transaction that occurred 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 completion of 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. 0.56% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. raised its position in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after buying an additional 16 shares in the last quarter. Burt Wealth Advisors bought a new position in Charter Communications during the first quarter valued at $115,000. Barrett Asset Management LLC raised its position in Charter Communications by 118.7% in the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after buying an additional 216 shares in the last quarter. Bessemer Group Inc. raised its position in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after buying an additional 151 shares in the last quarter. Finally, CKW Financial Group bought a new position in Charter Communications during the second quarter valued at $103,000. Hedge funds and other institutional investors own 77.76% 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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