Charter Communications, Inc. (NASDAQ:CHTR)‘s stock had its “market perform” rating reissued by stock analysts at Wells Fargo & Company in a research note issued to investors on Sunday, July 30th. They presently have a $372.00 price target on the stock, up from their prior price target of $330.00. Wells Fargo & Company’s price objective points to a potential downside of 7.21% from the company’s current price.
CHTR has been the subject of a number of other reports. Royal Bank Of Canada reiterated a “buy” rating and set a $356.00 price target on shares of Charter Communications in a research report on Friday, April 21st. Macquarie reissued a “buy” rating and issued a $365.00 price objective on shares of Charter Communications in a research note on Wednesday, April 19th. Morgan Stanley raised their price objective on shares of Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Pivotal Research reissued a “buy” rating on shares of Charter Communications in a research note on Sunday, July 30th. Finally, BidaskClub raised shares of Charter Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Eleven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $357.70.
Charter Communications (CHTR) traded up 2.86% during midday trading on Friday, reaching $400.90. 3,978,134 shares of the company’s stock traded hands. The company has a market capitalization of $103.39 billion, a price-to-earnings ratio of 114.84 and a beta of 1.09. Charter Communications has a 1-year low of $233.00 and a 1-year high of $408.83. The firm’s 50-day moving average is $347.44 and its 200-day moving average is $332.69.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $10.38 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. Charter Communications’s revenue was up 3.9% on a year-over-year basis. Analysts forecast that Charter Communications will post $0.60 earnings per share for the current year.
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In related news, Director David C. Merritt acquired 1,200 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $326.31 per share, with a total value of $391,572.00. Following the completion of the acquisition, the director now owns 8,174 shares in the company, valued at $2,667,257.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in CHTR. Parallel Advisors LLC boosted its stake 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 buying an additional 93 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after buying an additional 16 shares during the last quarter. Burt Wealth Advisors bought a new stake in Charter Communications during the first quarter worth $115,000. Barrett Asset Management LLC boosted its stake in Charter Communications by 118.7% in the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock worth $134,000 after buying an additional 216 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after buying an additional 151 shares during the last quarter. 77.76% of the stock is currently owned by institutional investors.
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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