Charter Communications’ (CHTR) Buy Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Charter Communications, Inc. (NASDAQ:CHTR) in a research report sent to investors on Monday morning. The firm currently has a $420.00 target price on the stock.
Several other analysts also recently weighed in on CHTR. Evercore ISI lifted their price target on shares of Charter Communications from $360.00 to $438.00 and gave the company an outperform rating in a research note on Friday. UBS AG reaffirmed a buy rating and set a $450.00 price target (up previously from $380.00) on shares of Charter Communications in a research note on Monday, August 14th. HSBC Holdings plc reaffirmed a hold rating and set a $360.00 price target (up previously from $300.00) on shares of Charter Communications in a research note on Tuesday, August 1st. Telsey Advisory Group raised shares of Charter Communications from a market perform rating to an outperform rating and lifted their price target for the company from $340.00 to $450.00 in a research note on Wednesday, August 9th. Finally, BidaskClub raised shares of Charter Communications from a buy rating to a strong-buy rating in a research note on Tuesday, August 1st. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $379.19.
Charter Communications (NASDAQ:CHTR) opened at 368.17 on Monday. Charter Communications has a 12-month low of $241.50 and a 12-month high of $408.83. The stock has a market cap of $94.94 billion, a P/E ratio of 105.46 and a beta of 1.10. The firm’s 50 day moving average price is $390.13 and its 200-day moving average price is $347.95.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. During the same period in the prior year, the firm posted $0.99 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Charter Communications will post $0.60 earnings per share for the current fiscal year.
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In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of Charter Communications stock in a transaction on Thursday, August 10th. The shares were 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 directly owns 18,025 shares of the company’s stock, valued at $7,191,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank grew its holdings in Charter Communications by 11.8% in the second quarter. Swiss National Bank now owns 857,609 shares of the company’s stock worth $288,886,000 after purchasing an additional 90,400 shares during the last quarter. Parallel Advisors LLC grew its holdings 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. Allen Investment Management LLC purchased a new position in Charter Communications in the second quarter worth $127,850,000. State of Tennessee Treasury Department grew its holdings in Charter Communications by 6.7% in the second quarter. State of Tennessee Treasury Department now owns 132,035 shares of the company’s stock worth $44,476,000 after purchasing an additional 8,280 shares during the last quarter. Finally, Birinyi Associates Inc. purchased a new position in Charter Communications in the second quarter worth $269,000. 74.09% of the stock is currently owned by institutional investors and hedge funds.
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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