Charter Communications’ (CHTR) “Buy” Rating Reaffirmed at Pivotal Research

Pivotal Research restated their buy rating on shares of Charter Communications (NASDAQ:CHTR) in a research report sent to investors on Monday, MarketBeat.com reports. Pivotal Research currently has a $500.00 target price on the stock, up from their previous target price of $420.00.

“We don’t view the CHTR investment thesis as rocket science, we see massive operational/synergistic upside that will overwhelm slowing PayTV/competitive market concerns. It is also very important to understand (as highlighted by the $13B in share repurchase activity in ‘17) that CHTR is effectively a public LBO that we estimate, at current share price levels, is able to retire all of the float (ex Liberty and Newhouse) by ’22 or 70+% of the total FD share count by maintaining leverage at ~4.5X and using excess cash flow to retire stock. This should act as a continual wind at the back of CHTR shares over a multi-year period. In addition, recall that Rutledge is very well incented to drive CHTR shares to the ~$600 level.”,” Pivotal Research’s analyst commented.

Several other research analysts have also recently issued reports on CHTR. Moffett Nathanson reissued a neutral rating on shares of Charter Communications in a report on Monday, October 16th. SunTrust Banks reissued a buy rating and set a $380.00 target price on shares of Charter Communications in a report on Friday, October 27th. Barclays dropped their price target on shares of Charter Communications from $354.00 to $283.00 and set an equal weight rating on the stock in a research report on Friday, October 27th. Macquarie restated a buy rating on shares of Charter Communications in a research report on Sunday, October 29th. Finally, Royal Bank of Canada restated a buy rating and set a $400.00 price target on shares of Charter Communications in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $396.11.

Charter Communications (NASDAQ:CHTR) opened at $363.55 on Monday. The company has a current ratio of 0.23, a quick ratio of 0.40 and a debt-to-equity ratio of 1.43. Charter Communications has a fifty-two week low of $308.30 and a fifty-two week high of $408.83. The stock has a market cap of $88,190.00, a price-to-earnings ratio of 10.66, a P/E/G ratio of 2.43 and a beta of 1.15.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, February 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.01. Charter Communications had a net margin of 23.80% and a return on equity of 1.11%. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the company posted $1.67 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. analysts forecast that Charter Communications will post 5.69 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in shares of Charter Communications by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 681 shares of the company’s stock valued at $194,000 after purchasing an additional 38 shares during the period. Colony Group LLC grew its position in shares of Charter Communications by 6.8% in the second quarter. Colony Group LLC now owns 813 shares of the company’s stock valued at $274,000 after purchasing an additional 52 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of Charter Communications by 2.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 3,880 shares of the company’s stock valued at $1,307,000 after purchasing an additional 80 shares during the period. Advisor Group Inc. grew its position in shares of Charter Communications by 15.8% in the second quarter. Advisor Group Inc. now owns 1,130 shares of the company’s stock valued at $375,000 after purchasing an additional 154 shares during the period. Finally, Hosking Partners LLP grew its position in shares of Charter Communications by 0.6% in the third quarter. Hosking Partners LLP now owns 28,001 shares of the company’s stock valued at $10,176,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 72.05% of the company’s stock.

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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.

Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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