Charter Communications, Inc. (CHTR) Earns Buy Rating from Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Charter Communications, Inc. (NASDAQ:CHTR) in a research note published on Monday morning. Royal Bank Of Canada currently has a $420.00 price target on the stock.
Other equities research analysts have also recently issued reports about the company. Pivotal Research reaffirmed a buy rating on shares of Charter Communications in a research note on Sunday, July 30th. Deutsche Bank AG reaffirmed a buy rating and issued a $410.00 price target (up from $390.00) on shares of Charter Communications in a research note on Monday, July 31st. BidaskClub raised Charter Communications from a hold rating to a buy rating in a research note on Saturday, July 8th. UBS AG reaffirmed a buy rating and issued a $450.00 price target (up from $380.00) on shares of Charter Communications in a research note on Monday, August 14th. Finally, Citigroup Inc. upped their price target on Charter Communications from $378.00 to $456.00 and gave the stock a buy rating in a research note on Tuesday, August 22nd. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $379.19.
Shares of Charter Communications (NASDAQ:CHTR) opened at 367.01 on Monday. The firm has a market cap of $94.65 billion, a P/E ratio of 105.13 and a beta of 1.10. Charter Communications has a 12 month low of $241.50 and a 12 month high of $408.83. The stock’s 50 day moving average is $389.33 and its 200 day moving average is $348.25.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.29). The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.38 billion. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. Charter Communications’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 earnings per share. Equities research analysts expect that Charter Communications will post $0.60 EPS for the current year.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $399.00, for a total value of $4,379,424.00. Following the transaction, the executive vice president now owns 18,025 shares of the company’s stock, valued at $7,191,975. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its position 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 in the last quarter. Cornerstone Advisors Inc. grew its position in shares of Charter Communications by 4.9% during the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock worth $116,000 after purchasing an additional 16 shares in the last quarter. Barrett Asset Management LLC grew its position in shares of Charter Communications by 118.7% during the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock worth $134,000 after purchasing an additional 216 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Charter Communications by 50.7% during the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock worth $152,000 after purchasing an additional 151 shares in the last quarter. Finally, Rational Advisors LLC purchased a new stake in shares of Charter Communications during the second quarter worth about $168,000. Institutional investors and hedge funds own 74.09% 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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