Charter Communications (NASDAQ:CHTR) Price Target Raised to $350.00

Charter Communications (NASDAQ:CHTR) had its price target increased by investment analysts at Citigroup from $255.00 to $350.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price points to a potential downside of 8.34% from the stock’s previous close.

A number of other brokerages also recently commented on CHTR. Barclays increased their price target on Charter Communications from $250.00 to $300.00 and gave the company an “underweight” rating in a report on Monday. TD Cowen boosted their price target on Charter Communications from $488.00 to $525.00 and gave the company a “buy” rating in a report on Monday. Pivotal Research raised their price objective on Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Raymond James lowered shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $373.69.

Charter Communications Stock Down 0.3 %

Shares of Charter Communications stock traded down $1.22 during trading hours on Wednesday, hitting $381.85. The company had a trading volume of 832,895 shares, compared to its average volume of 1,473,708. Charter Communications has a twelve month low of $236.08 and a twelve month high of $458.30. The company has a market cap of $55.00 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.69 and a beta of 1.04. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.40. The company’s 50-day moving average is $297.11 and its two-hundred day moving average is $295.33.

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

Institutional Trading of Charter Communications

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in Charter Communications by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 102,802 shares of the company’s stock worth $39,957,000 after acquiring an additional 2,940 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Charter Communications by 50.8% during 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. Mackenzie Financial Corp grew its position in shares of Charter Communications by 14.3% in the 4th quarter. Mackenzie Financial Corp now owns 47,854 shares of the company’s stock valued at $18,600,000 after purchasing an additional 5,979 shares during the period. Sands Capital Management LLC increased its stake in Charter Communications by 5.7% during the 4th quarter. Sands Capital Management LLC now owns 319,860 shares of the company’s stock worth $124,323,000 after purchasing an additional 17,112 shares in the last quarter. Finally, Oakcliff Capital Partners LP raised its holdings in Charter Communications by 8.2% during the 4th quarter. Oakcliff Capital Partners LP now owns 38,474 shares of the company’s stock worth $14,954,000 after buying an additional 2,900 shares during the period. 81.76% of the stock is owned by institutional investors.

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.