BidaskClub Upgrades Charter Communications (NASDAQ:CHTR) to Buy

BidaskClub upgraded shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a buy rating in a research report report published on Wednesday, May 1st, BidAskClub reports.

CHTR has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Charter Communications from a buy rating to a hold rating in a research report on Wednesday, March 6th. Credit Suisse Group reaffirmed a neutral rating and set a $345.00 price objective (up previously from $294.00) on shares of Charter Communications in a research report on Friday, February 1st. TD Securities started coverage on shares of Charter Communications in a research report on Wednesday, January 16th. They set a buy rating and a $385.00 price objective for the company. Nomura started coverage on shares of Charter Communications in a research note on Wednesday, January 16th. They issued a neutral rating and a $330.00 target price on the stock. Finally, Royal Bank of Canada set a $400.00 target price on shares of Charter Communications and gave the company a buy rating in a research note on Saturday, February 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $365.88.

Charter Communications stock opened at $386.41 on Wednesday. The firm has a market cap of $84.27 billion, a price-to-earnings ratio of 74.02, a PEG ratio of 1.18 and a beta of 1.40. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.31 and a quick ratio of 0.31. Charter Communications has a fifty-two week low of $259.48 and a fifty-two week high of $387.41.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.23). The company had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.20 billion. Charter Communications had a net margin of 2.98% and a return on equity of 2.94%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 EPS. Equities analysts forecast that Charter Communications will post 7.4 earnings per share for the current fiscal year.

In other news, Director Craig A. Jacobson sold 1,325 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $375.18, for a total transaction of $497,113.50. Following the sale, the director now directly owns 12,773 shares of the company’s stock, valued at $4,792,174.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Markley, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $350.09, for a total transaction of $350,090.00. The disclosure for this sale can be found here. Insiders have sold 4,344 shares of company stock worth $1,551,491 over the last ninety days. Insiders own 0.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHTR. Macquarie Group Ltd. raised its position in shares of Charter Communications by 31.4% in the 3rd quarter. Macquarie Group Ltd. now owns 4,600 shares of the company’s stock worth $1,499,000 after buying an additional 1,100 shares during the period. Standard Life Aberdeen plc raised its position in shares of Charter Communications by 9.8% in the 3rd quarter. Standard Life Aberdeen plc now owns 59,743 shares of the company’s stock worth $19,470,000 after buying an additional 5,310 shares during the period. Legal & General Group Plc raised its position in Charter Communications by 1.4% in the third quarter. Legal & General Group Plc now owns 785,747 shares of the company’s stock valued at $256,059,000 after purchasing an additional 10,808 shares during the period. Morgan Stanley raised its position in Charter Communications by 1.1% in the third quarter. Morgan Stanley now owns 955,767 shares of the company’s stock valued at $311,467,000 after purchasing an additional 9,976 shares during the period. Finally, Rehmann Capital Advisory Group raised its position in Charter Communications by 6.6% in the third quarter. Rehmann Capital Advisory Group now owns 1,067 shares of the company’s stock valued at $348,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 74.48% of the company’s stock.

About Charter Communications

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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