Telsey Advisory Group Raises Charter Communications Inc. (CHTR) Price Target to $302.00
Charter Communications Inc. (NASDAQ:CHTR) had its price target raised by Telsey Advisory Group from $246.00 to $302.00 in a research note issued to investors on Monday. The firm currently has an outperform rating on the stock.
Several other brokerages also recently issued reports on CHTR. Pivotal Research lifted their target price on Charter Communications from $333.00 to $350.00 and gave the company a buy rating in a research note on Monday, September 26th. Macquarie lifted their price objective on Charter Communications from $286.00 to $289.00 and gave the stock an outperform rating in a research note on Wednesday, September 28th. Citigroup Inc. lifted their price objective on Charter Communications from $270.00 to $318.00 and gave the stock a buy rating in a research note on Friday, September 30th. Morgan Stanley reaffirmed a buy rating and issued a $300.00 price objective on shares of Charter Communications in a research note on Monday, September 12th. Finally, Vetr raised Charter Communications from a buy rating to a strong-buy rating and set a $300.54 price objective on the stock in a research note on Monday, September 12th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $287.86.
Charter Communications (NASDAQ:CHTR) opened at 256.40 on Monday. Charter Communications has a one year low of $156.13 and a one year high of $279.95. The company has a market cap of $69.47 billion, a P/E ratio of 11.45 and a beta of 0.67. The company’s 50 day moving average price is $266.47 and its 200-day moving average price is $234.78.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Tuesday, August 9th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.28. The company had revenue of $9.99 billion for the quarter, compared to the consensus estimate of $1.66 billion. Charter Communications had a return on equity of 0.19% and a net margin of 20.59%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.09) EPS. On average, analysts forecast that Charter Communications will post $0.60 EPS for the current fiscal year.
In other news, Director Craig A. Jacobson sold 3,000 shares of Charter Communications stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $258.15, for a total transaction of $774,450.00. Following the sale, the director now owns 16,563 shares in the company, valued at $4,275,738.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mauricio Ramos bought 1,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now directly owns 1,997 shares of the company’s stock, valued at approximately $509,235. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.
Several hedge funds have recently bought and sold shares of CHTR. Dodge & Cox purchased a new stake in Charter Communications during the second quarter worth approximately $2,594,469,000. Vanguard Group Inc. boosted its stake in Charter Communications by 76.5% in the second quarter. Vanguard Group Inc. now owns 9,136,358 shares of the company’s stock worth $2,088,936,000 after buying an additional 3,960,440 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Charter Communications by 181.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,131,578 shares of the company’s stock worth $1,173,284,000 after buying an additional 3,310,589 shares during the period. Veritas Asset Management LLP purchased a new stake in Charter Communications during the second quarter worth approximately $721,102,000. Finally, Orbis Allan Gray Ltd purchased a new stake in Charter Communications during the first quarter worth approximately $610,267,000. Institutional investors and hedge funds own 77.10% of the company’s stock.
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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