Macquarie Raises Charter Communications Inc. (CHTR) Price Target to $289.00
Charter Communications Inc. (NASDAQ:CHTR) had its price target hoisted by investment analysts at Macquarie from $286.00 to $289.00 in a report released on Wednesday. The brokerage presently has an “outperform” rating on the stock. Macquarie’s target price would indicate a potential upside of 4.94% from the stock’s current price.
Several other research analysts also recently issued reports on CHTR. Jefferies Group reiterated a “hold” rating on shares of Charter Communications in a report on Saturday, June 4th. Vetr upgraded Charter Communications from a “buy” rating to a “strong-buy” rating and set a $300.54 price objective for the company in a report on Monday, September 12th. Pivotal Research increased their price objective on Charter Communications from $333.00 to $350.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. restated a “buy” rating on shares of Charter Communications in a report on Thursday, June 30th. Finally, Robert W. Baird restated a “neutral” rating and issued a $230.00 price objective on shares of Charter Communications in a report on Tuesday, June 28th. Four equities research 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 company. Charter Communications currently has an average rating of “Buy” and a consensus target price of $279.62.
Charter Communications (NASDAQ:CHTR) traded down 0.21% on Wednesday, reaching $274.81. The company’s stock had a trading volume of 515,166 shares. The company has a market cap of $74.45 billion, a P/E ratio of 12.27 and a beta of 0.72. The stock’s 50 day moving average price is $262.77 and its 200 day moving average price is $229.63. Charter Communications has a 12 month low of $156.13 and a 12 month high of $279.95.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.28. The company earned $9.99 billion during the quarter, compared to the consensus estimate of $1.66 billion. Charter Communications had a net margin of 20.59% and a return on equity of 0.19%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.09) earnings per share. Equities research analysts forecast that Charter Communications will post $0.60 earnings per share for the current year.
In other Charter Communications news, EVP Jonathan Hargis sold 7,233 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $253.21, for a total value of $1,831,467.93. Following the completion of the sale, the executive vice president now owns 13,255 shares in the company, valued at approximately $3,356,298.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mauricio Ramos acquired 1,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now owns 1,997 shares in the company, valued at approximately $509,235. The disclosure for this purchase can be found here. 1.51% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. CKW Financial Group purchased a new stake in Charter Communications during the second quarter valued at approximately $103,000. Brave Asset Management Inc bought a new stake in shares of Charter Communications during the second quarter valued at about $104,000. Glenmede Trust Co. NA bought a new stake in shares of Charter Communications during the second quarter valued at about $107,000. Daiwa SB Investments Ltd. bought a new stake in shares of Charter Communications during the second quarter valued at about $110,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Charter Communications during the second quarter valued at about $110,000. Hedge funds and other institutional investors 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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