UBS AG Reiterates Buy Rating for Charter Communications, Inc. (CHTR)
Charter Communications, Inc. (NASDAQ:CHTR)‘s stock had its “buy” rating reissued by analysts at UBS AG in a research report issued on Monday, The Fly reports. They presently have a $450.00 target price on the stock, up from their prior target price of $380.00. UBS AG’s price target suggests a potential upside of 13.14% from the company’s previous close.
Several other analysts have also issued reports on the stock. Telsey Advisory Group upgraded shares of Charter Communications from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $340.00 to $450.00 in a report on Wednesday, August 9th. Royal Bank Of Canada lifted their target price on Charter Communications from $356.00 to $420.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Guggenheim downgraded Charter Communications from a “buy” rating to a “neutral” rating and lifted their target price for the company from $370.00 to $400.00 in a research report on Thursday, August 3rd. Barclays PLC set a $354.00 target price on Charter Communications and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Finally, HSBC Holdings plc reaffirmed a “hold” rating and issued a $360.00 target price (up from $300.00) on shares of Charter Communications in a research report on Tuesday, August 1st. Eleven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Charter Communications currently has an average rating of “Buy” and a consensus price target of $369.96.
Charter Communications (NASDAQ CHTR) opened at 397.73 on Monday. Charter Communications has a 12-month low of $241.50 and a 12-month high of $408.83. The company has a market capitalization of $102.57 billion, a PE ratio of 113.93 and a beta of 1.09. The stock has a 50 day moving average of $359.39 and a 200-day moving average of $337.18.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.29. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. Equities analysts expect that Charter Communications will post $0.60 earnings per share for the current year.
In other news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $399.00, for a total transaction of $4,379,424.00. Following the completion of the transaction, the executive vice president now directly owns 18,025 shares of the company’s stock, valued at $7,191,975. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.
Several institutional investors have recently made changes to their positions in CHTR. Addison Capital Co increased its position 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 worth $1,707,000 after buying an additional 3,634 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of Charter Communications by 0.3% in the second quarter. State Treasurer State of Michigan now owns 70,900 shares of the company’s stock worth $23,883,000 after buying an additional 200 shares in the last quarter. Jennison Associates LLC increased its position in shares of Charter Communications by 32.3% in the first quarter. Jennison Associates LLC now owns 3,286,979 shares of the company’s stock worth $1,075,894,000 after buying an additional 801,716 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of Charter Communications by 1.0% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 38,248 shares of the company’s stock worth $12,519,000 after buying an additional 389 shares in the last quarter. Finally, ING Groep NV increased its position in shares of Charter Communications by 0.3% in the second quarter. ING Groep NV now owns 28,779 shares of the company’s stock worth $9,694,000 after buying an additional 77 shares in the last quarter. 77.79% of the stock is 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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