Charter Communications (NASDAQ:CHTR) Given New $385.00 Price Target at Bank of America

Charter Communications (NASDAQ:CHTR) had its price target lifted by stock analysts at Bank of America from $360.00 to $385.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 0.50% from the company’s current price.

A number of other research analysts have also recently weighed in on CHTR. Morgan Stanley lifted their price objective on shares of Charter Communications from $300.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Rosenblatt Securities upped their price target on Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company lowered their price target on Charter Communications from $290.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Raymond James downgraded Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Charter Communications in a research note on Monday, July 1st. They issued a “sell” rating and a $250.00 price target on the stock. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $367.75.

Charter Communications Stock Up 1.5 %

Shares of CHTR opened at $383.07 on Monday. The stock’s 50-day moving average price is $297.11 and its 200-day moving average price is $295.33. The company has a quick ratio of 0.40, a current ratio of 0.39 and a debt-to-equity ratio of 5.84. The company has a market capitalization of $55.17 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.64 and a beta of 1.04. Charter Communications has a 52 week low of $236.08 and a 52 week high of $458.30.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data 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 business had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter last year, the company earned $8.05 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Charter Communications will post 30.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHTR. Capital International Investors grew its stake in Charter Communications by 53.6% during the 1st quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after purchasing an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC grew its holdings in Charter Communications by 96.5% during the 1st quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock worth $827,848,000 after acquiring an additional 1,399,034 shares in the last quarter. Norges Bank acquired a new position in Charter Communications during the 4th quarter worth approximately $310,727,000. Parnassus Investments LLC increased its position in shares of Charter Communications by 40.1% in the 4th quarter. Parnassus Investments LLC now owns 1,620,542 shares of the company’s stock valued at $629,872,000 after purchasing an additional 463,968 shares during the last quarter. Finally, Putnam Investments LLC raised its holdings in shares of Charter Communications by 24.5% in the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after purchasing an additional 242,448 shares in 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.