Charter Communications, Inc. (CHTR) Given New $420.00 Price Target at Royal Bank Of Canada
Charter Communications, Inc. (NASDAQ:CHTR) had its price objective lifted by Royal Bank Of Canada from $356.00 to $420.00 in a research note released on Monday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.
Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Charter Communications from a hold rating to a buy rating in a research note on Saturday, July 8th. Macquarie reiterated a buy rating and set a $365.00 price target on shares of Charter Communications in a research note on Tuesday, May 2nd. SunTrust Banks, Inc. initiated coverage on shares of Charter Communications in a research note on Tuesday, April 18th. They set a buy rating and a $380.00 price target on the stock. Deutsche Bank AG cut their price target on shares of Charter Communications from $400.00 to $390.00 and set a buy rating on the stock in a research note on Thursday, May 4th. Finally, Pivotal Research reiterated a buy rating on shares of Charter Communications in a research note on Sunday, July 30th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Charter Communications has an average rating of Buy and a consensus target price of $351.91.
Shares of Charter Communications (NASDAQ CHTR) traded up 0.93% during trading on Monday, hitting $384.55. The stock had a trading volume of 344,505 shares. The stock has a market cap of $99.17 billion, a P/E ratio of 110.15 and a beta of 1.09. Charter Communications has a one year low of $233.00 and a one year high of $399.95. The stock’s 50 day moving average price is $343.55 and its 200-day moving average price is $331.55.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.52 earnings per share 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 quarter in the previous year, the business posted $0.99 earnings per share. Charter Communications’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that Charter Communications will post $0.60 earnings per share for the current fiscal year.
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In other Charter Communications news, Director David C. Merritt acquired 1,200 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were bought at an average cost of $326.31 per share, for a total transaction of $391,572.00. Following the completion of the purchase, the director now owns 8,174 shares in the company, valued at approximately $2,667,257.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Craig A. Jacobson sold 1,000 shares of Charter Communications stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $323.62, for a total transaction of $323,620.00. Following the completion of the transaction, the director now owns 13,436 shares in the company, valued at $4,348,158.32. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Reliance Trust Co. of Delaware increased its stake in shares of Charter Communications by 12.4% in the first quarter. Reliance Trust Co. of Delaware now owns 4,464 shares of the company’s stock valued at $1,461,000 after buying an additional 494 shares during the last quarter. Regent Investment Management LLC purchased a new stake in shares of Charter Communications during the first quarter valued at $3,364,000. Addison Capital Co increased its stake in shares of Charter Communications by 229.7% in the first quarter. Addison Capital Co now owns 5,216 shares of the company’s stock valued at $1,707,000 after buying an additional 3,634 shares during the last quarter. Doyle Wealth Management purchased a new stake in shares of Charter Communications during the first quarter valued at $5,857,000. Finally, Atria Investments LLC increased its stake in shares of Charter Communications by 87.2% in the first quarter. Atria Investments LLC now owns 2,739 shares of the company’s stock valued at $897,000 after buying an additional 1,276 shares during the last quarter. 77.76% of the stock is currently 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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