Pivotal Research Forecasts Strong Price Appreciation for Charter Communications (NASDAQ:CHTR) Stock

Charter Communications (NASDAQ:CHTR) had its target price raised by Pivotal Research from $435.00 to $525.00 in a research note issued to investors on Monday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on CHTR. Citigroup upgraded shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 target price on the stock in a report on Wednesday, September 11th. TD Cowen upped their price objective on Charter Communications from $488.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Rosenblatt Securities raised their target price on Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Raymond James cut shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday, July 29th. Finally, Morgan Stanley upped their target price on shares of Charter Communications from $360.00 to $415.00 and gave the company an “equal weight” rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Charter Communications has a consensus rating of “Hold” and an average price target of $379.06.

Charter Communications Price Performance

Shares of CHTR opened at $408.02 on Monday. The firm’s 50-day simple moving average is $334.95 and its two-hundred day simple moving average is $314.67. Charter Communications has a fifty-two week low of $236.08 and a fifty-two week high of $421.16. The stock has a market cap of $58.24 billion, a PE ratio of 12.78, a price-to-earnings-growth 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 announced its quarterly earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. The company had revenue of $13.80 billion for 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%. Charter Communications’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.25 EPS. Analysts anticipate that Charter Communications will post 32.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Hedge funds have recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Charter Communications in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of Charter Communications in the 3rd quarter valued at about $28,000. CVA Family Office LLC grew its position in Charter Communications by 5,500.0% in the second quarter. CVA Family Office LLC now owns 112 shares of the company’s stock worth $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 during the first quarter worth approximately $34,000. Finally, Grove Bank & Trust raised its position in Charter Communications by 39.1% during the third quarter. Grove Bank & Trust now owns 121 shares of the company’s stock valued at $39,000 after purchasing an additional 34 shares during the period. 81.76% of the stock is currently owned by hedge funds and other 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.