Morgan Stanley Forecasts Strong Price Appreciation for Charter Communications (NASDAQ:CHTR) Stock

Charter Communications (NASDAQ:CHTR) had its price objective hoisted by Morgan Stanley from $360.00 to $415.00 in a research note released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the company. Wells Fargo & Company raised their price objective on Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Raymond James downgraded Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Rosenblatt Securities boosted their price objective on shares of Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. TD Cowen raised their target price on shares of Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Pivotal Research lifted their price target on shares of Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Charter Communications has an average rating of “Hold” and a consensus target price of $379.06.

Charter Communications Stock Up 6.7 %

NASDAQ CHTR opened at $408.02 on Monday. The stock has a 50 day moving average price of $334.95 and a 200-day moving average price of $314.67. Charter Communications has a one year low of $236.08 and a one year high of $421.16. The company has a market capitalization of $58.24 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.66 and a beta of 1.03. The company has a debt-to-equity ratio of 5.24, a quick ratio of 0.39 and a current ratio of 0.34.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, November 1st. The company reported $8.82 EPS for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. The business had revenue of $13.80 billion during the quarter, compared to analysts’ expectations of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $8.25 EPS. As a group, equities analysts predict that Charter Communications will post 32.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in Charter Communications by 50.8% in the first quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock worth $2,658,000 after acquiring an additional 3,080 shares during the period. Cornerstone Capital Inc. lifted its position in shares of Charter Communications by 40.7% in the 3rd quarter. Cornerstone Capital Inc. now owns 37,860 shares of the company’s stock worth $12,270,000 after purchasing an additional 10,950 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of Charter Communications during the second quarter valued at approximately $7,171,000. Cetera Investment Advisers increased its holdings in Charter Communications by 432.3% during the first quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock valued at $2,150,000 after buying an additional 6,009 shares during the period. Finally, National Pension Service raised its stake in Charter Communications by 8.1% in the third quarter. National Pension Service now owns 172,013 shares of the company’s stock worth $55,746,000 after buying an additional 12,915 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

About Charter Communications

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.