Charter Communications (CHTR) Given New $357.00 Price Target at Cowen

Charter Communications (NASDAQ:CHTR) had its price objective hoisted by equities researchers at Cowen from $337.00 to $357.00 in a research note issued on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Cowen’s target price would suggest a potential upside of 13.08% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Barclays set a $259.00 price objective on Charter Communications and gave the stock a “sell” rating in a research report on Wednesday, October 10th. Buckingham Research lowered their price objective on Charter Communications from $418.00 to $383.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Macquarie reaffirmed a “buy” rating and set a $355.00 price objective on shares of Charter Communications in a research report on Wednesday, September 12th. BidaskClub raised Charter Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Finally, Citigroup lowered their price objective on Charter Communications from $375.00 to $370.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $359.94.

Shares of NASDAQ:CHTR traded down $11.08 on Friday, hitting $315.70. 1,135,577 shares of the company’s stock were exchanged, compared to its average volume of 1,090,314. The stock has a market cap of $74.81 billion, a P/E ratio of 119.13, a P/E/G ratio of 1.54 and a beta of 1.16. Charter Communications has a 1-year low of $250.10 and a 1-year high of $396.64. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.23 and a current ratio of 0.23.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 26th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $1.06. The business had revenue of $10.89 billion during the quarter, compared to analysts’ expectations of $10.93 billion. Charter Communications had a return on equity of 2.39% and a net margin of 24.39%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. On average, equities research analysts predict that Charter Communications will post 5.58 EPS for the current year.

In related news, insider John Bickham sold 144,672 shares of the company’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $322.71, for a total value of $46,687,101.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CHTR. Altarock Partners LLC raised its stake in Charter Communications by 11.7% during the 3rd quarter. Altarock Partners LLC now owns 766,598 shares of the company’s stock valued at $249,819,000 after acquiring an additional 80,200 shares during the last quarter. Clearline Capital LP purchased a new stake in Charter Communications during the 2nd quarter valued at approximately $1,200,000. Alps Advisors Inc. purchased a new stake in Charter Communications during the 3rd quarter valued at approximately $1,328,000. CIBC Asset Management Inc raised its stake in Charter Communications by 1.4% during the 3rd quarter. CIBC Asset Management Inc now owns 28,210 shares of the company’s stock valued at $9,193,000 after acquiring an additional 377 shares during the last quarter. Finally, Sarasin & Partners LLP raised its stake in Charter Communications by 7.2% during the 3rd quarter. Sarasin & Partners LLP now owns 68,642 shares of the company’s stock valued at $22,369,000 after acquiring an additional 4,591 shares during the last quarter. 71.97% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Company Profile

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.

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