Charter Communications, Inc. (CHTR) Given Average Recommendation of “Buy” by Analysts
Shares of Charter Communications, Inc. (NASDAQ:CHTR) have been assigned a consensus rating of “Buy” from the twenty-four analysts that are currently covering the company, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $380.85.
A number of equities research analysts have commented on CHTR shares. Morgan Stanley raised their price objective on Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Telsey Advisory Group cut Charter Communications from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $450.00 to $340.00 in a research note on Tuesday, September 5th. BidaskClub cut Charter Communications from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Wells Fargo & Company reissued a “market perform” rating and issued a $372.00 price objective (up previously from $330.00) on shares of Charter Communications in a research note on Sunday, July 30th. Finally, Evercore ISI raised their price objective on Charter Communications from $360.00 to $438.00 and gave the company an “outperform” rating in a research note on Friday, September 15th.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $399.00, for a total value of $4,379,424.00. Following the transaction, the executive vice president now owns 18,025 shares of the company’s stock, valued at $7,191,975. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of CHTR. Cornerstone Advisors Inc. boosted its position in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after purchasing an additional 16 shares during the last quarter. Parallel Advisors LLC boosted its position in Charter Communications by 43.3% in the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock worth $121,000 after purchasing an additional 93 shares during the last quarter. Barrett Asset Management LLC boosted 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 worth $134,000 after purchasing an additional 216 shares during the last quarter. Bessemer Group Inc. boosted its position in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after purchasing an additional 151 shares during the last quarter. Finally, Rational Advisors LLC purchased a new position in Charter Communications in the second quarter worth $168,000. 74.10% of the stock is currently owned by institutional investors and hedge funds.
Charter Communications (NASDAQ:CHTR) opened at 364.92 on Wednesday. The firm’s 50-day moving average price is $377.22 and its 200-day moving average price is $352.67. Charter Communications has a 52-week low of $241.50 and a 52-week high of $408.83. The firm has a market cap of $94.11 billion, a P/E ratio of 104.53 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.52 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. During the same period last year, the business posted $0.99 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Charter Communications will post $0.60 EPS for the current year.
About Charter Communications
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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