Charter Communications (NASDAQ:CHTR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Charter Communications (NASDAQ:CHTR) had its target price hoisted by Royal Bank of Canada from $345.00 to $390.00 in a report released on Monday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

CHTR has been the topic of several other research reports. Wolfe Research downgraded shares of Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price target on the stock. in a report on Monday, September 30th. TD Cowen increased their price target 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. Citigroup upgraded shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price target on the stock in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upped their price objective on Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their price objective on Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $379.06.

Charter Communications Stock Performance

CHTR opened at $408.02 on Monday. Charter Communications has a 52-week low of $236.08 and a 52-week high of $421.16. The company has a quick ratio of 0.39, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. The company has a market cap of $58.24 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.66 and a beta of 1.03. The firm’s 50-day moving average price is $334.95 and its 200-day moving average price is $314.67.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Charter Communications by 50.8% in the 1st quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock valued at $2,658,000 after purchasing an additional 3,080 shares in the last quarter. Cornerstone Capital Inc. increased its stake 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 acquiring an additional 10,950 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Charter Communications in the 2nd quarter worth $7,171,000. Cetera Investment Advisers increased its stake in shares of Charter Communications by 432.3% in the 1st quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock worth $2,150,000 after acquiring an additional 6,009 shares during the last quarter. Finally, National Pension Service increased its stake in shares of Charter Communications by 8.1% in the 3rd quarter. National Pension Service now owns 172,013 shares of the company’s stock worth $55,746,000 after acquiring an additional 12,915 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

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.