Charter Communications (NASDAQ:CHTR) Price Target Raised to $360.00

Charter Communications (NASDAQ:CHTR) had its price target lifted by investment analysts at Morgan Stanley from $330.00 to $360.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 4.88% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Loop Capital cut their target price on shares of Charter Communications from $335.00 to $285.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Pivotal Research boosted their price objective on shares of Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup lowered shares of Charter Communications from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $280.00 to $255.00 in a report on Wednesday, July 3rd. Raymond James lowered shares of Charter Communications from a “market perform” rating to an “underperform” rating in a report on Monday. Finally, Rosenblatt Securities lifted their target price on shares of Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a report on Monday. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Charter Communications presently has an average rating of “Hold” and a consensus price target of $367.75.

Charter Communications Price Performance

CHTR traded up $10.83 during midday trading on Monday, reaching $378.45. 1,128,217 shares of the company’s stock were exchanged, compared to its average volume of 1,470,772. The firm has a market capitalization of $54.51 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.64 and a beta of 1.04. The company has a quick ratio of 0.40, a current ratio of 0.39 and a debt-to-equity ratio of 5.84. Charter Communications has a one year low of $236.08 and a one year high of $458.30. The business has a 50-day simple moving average of $292.90 and a two-hundred day simple moving average of $295.14.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The firm had revenue of $13.69 billion during the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter last year, the company earned $8.05 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts predict that Charter Communications will post 30.5 EPS for the current year.

Institutional Investors Weigh In On Charter Communications

Institutional investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. bought a new stake in Charter Communications in the 4th quarter valued at $25,000. CVA Family Office LLC lifted its position in Charter Communications by 5,500.0% in the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after acquiring an additional 110 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Charter Communications in the 1st quarter valued at $34,000. Riverview Trust Co bought a new stake in Charter Communications in the 1st quarter valued at $40,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Charter Communications during the 4th quarter worth about $44,000. 81.76% of the stock is owned by institutional investors.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.