Charter Communications (CHTR) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $338.00 price objective on the stock.

According to Zacks, “Charter is benefiting from its diversified portfolio offerings that includes video, voice services and Internet. Increasing Internet subscriber base is also a key catalyst for the company. Additionally, the partnership with Comcast to develop back-end software to support services for Xfinity mobile offering is significantly positive. The collaboration is cost-saving to the company. Moreover, Charter is expected to benefit from the launch of Spectrum Mobile service under mobile virtual network operator (MVNO) reseller agreement with Verizon. Notably, its shares have outperformed the industry over the past year. However, Charter continues to struggle due to a saturated and competitive multi-channel U.S. video market. The company is also facing stiff competition from online TV streaming service providers that is hurting top-line growth.”

CHTR has been the topic of several other reports. UBS Group decreased their price objective on shares of Charter Communications from $390.00 to $370.00 and set a buy rating on the stock in a report on Monday, October 29th. Raymond James dropped their target price on shares of Charter Communications from $400.00 to $365.00 and set a strong-buy rating on the stock in a research report on Wednesday, October 31st. SunTrust Banks dropped their target price on shares of Charter Communications from $390.00 to $365.00 and set a buy rating on the stock in a research report on Monday, October 29th. Cowen increased their target price on shares of Charter Communications from $337.00 to $357.00 and gave the company an outperform rating in a research report on Friday, December 7th. Finally, BidaskClub raised shares of Charter Communications from a buy rating to a strong-buy rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $358.65.



CHTR stock traded down $0.49 during midday trading on Tuesday, hitting $292.18. The stock had a trading volume of 38,025 shares, compared to its average volume of 1,393,376. The stock has a market cap of $68.13 billion, a P/E ratio of 110.05, a price-to-earnings-growth ratio of 1.13 and a beta of 1.22. Charter Communications has a 52 week low of $250.10 and a 52 week high of $396.64. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.23 and a quick ratio of 0.23.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, October 26th. The company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $1.06. Charter Communications had a return on equity of 2.39% and a net margin of 24.39%. The company had revenue of $10.89 billion during the quarter, compared to analyst estimates of $10.93 billion. During the same period last year, the company posted $0.19 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Charter Communications will post 5.58 EPS for the current year.

In other news, insider John Bickham sold 144,672 shares of Charter Communications stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $322.71, for a total value of $46,687,101.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.83% of the stock is owned by insiders.

Several large investors have recently modified their holdings of CHTR. Cornerstone Advisors Inc. lifted its stake in shares of Charter Communications by 55.7% in the third quarter. Cornerstone Advisors Inc. now owns 123 shares of the company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Charter Communications by 254.6% in the second quarter. Chicago Partners Investment Group LLC now owns 344 shares of the company’s stock valued at $101,000 after purchasing an additional 247 shares during the period. Vigilant Capital Management LLC acquired a new stake in shares of Charter Communications in the third quarter valued at about $106,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Charter Communications in the third quarter valued at about $109,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Charter Communications in the second quarter valued at about $129,000. 71.81% of the stock is currently owned by institutional investors and hedge funds.

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, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.

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