Charter Communications Inc. (CHTR) Raised to Buy at Moffett Nathanson
Charter Communications Inc. (NASDAQ:CHTR) was upgraded by Moffett Nathanson from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday.
Several other equities analysts have also recently weighed in on CHTR. Telsey Advisory Group boosted their price objective on Charter Communications from $246.00 to $302.00 and gave the stock an “outperform” rating in a research report on Monday, October 10th. Argus reissued a “buy” rating and set a $300.00 price objective on shares of Charter Communications in a research report on Wednesday, August 24th. Zacks Investment Research cut Charter Communications from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 29th. Bank of America Corp. initiated coverage on Charter Communications in a research report on Tuesday, August 2nd. They set a “buy” rating and a $300.00 price objective for the company. Finally, Pivotal Research boosted their price objective on Charter Communications from $285.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $287.45.
Charter Communications (NASDAQ:CHTR) opened at 269.83 on Thursday. The company’s 50-day moving average price is $261.61 and its 200-day moving average price is $242.21. Charter Communications has a 52-week low of $156.13 and a 52-week high of $279.95. The firm has a market cap of $73.03 billion, a price-to-earnings ratio of 16.05 and a beta of 0.93.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.10. The company had revenue of $10.04 billion for the quarter, compared to the consensus estimate of $1.66 billion. Charter Communications had a return on equity of 0.62% and a net margin of 13.87%. The business’s revenue was up 309.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. Analysts predict that Charter Communications will post $0.60 EPS for the current year.
In other news, Director Mauricio Ramos acquired 1,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now owns 1,997 shares of the company’s stock, valued at $509,235. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CHTR. Dodge & Cox purchased a new position in shares of Charter Communications during the second quarter worth approximately $2,594,469,000. Vanguard Group Inc. raised its position in shares of 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 last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 last quarter. Veritas Asset Management LLP purchased a new position in shares of Charter Communications during the second quarter worth approximately $721,102,000. Finally, State Street Corp raised its position in shares of Charter Communications by 211.5% in the second quarter. State Street Corp now owns 4,412,594 shares of the company’s stock worth $1,008,881,000 after buying an additional 2,996,100 shares during the last quarter. Hedge funds and other institutional investors own 77.29% 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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