Charter Communications (NASDAQ:CHTR) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Charter Communications (NASDAQ:CHTR) from a sell rating to a neutral rating in a report published on Wednesday, MarketBeat reports. Citigroup currently has $350.00 price target on the stock.

Several other brokerages also recently issued reports on CHTR. Morgan Stanley upped their price target on shares of Charter Communications from $330.00 to $360.00 and gave the company an equal weight rating in a report on Monday, July 29th. Rosenblatt Securities upped their price target on shares of Charter Communications from $292.00 to $329.00 and gave the stock a neutral rating in a research report on Monday, July 29th. TD Cowen upped their price target on shares of Charter Communications from $488.00 to $525.00 and gave the stock a buy rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price target on shares of Charter Communications from $260.00 to $350.00 and gave the stock an equal weight rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charter Communications from $300.00 to $325.00 and gave the stock a hold rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $360.93.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $340.17 on Wednesday. The company’s fifty day moving average price is $341.00 and its 200 day moving average price is $300.57. Charter Communications has a 12 month low of $236.08 and a 12 month high of $458.30. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $48.56 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.61 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (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 analyst estimates of $13.59 billion. During the same period in the previous year, the business posted $8.05 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Charter Communications will post 32.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors boosted its position in shares of Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after buying an additional 3,685,451 shares during the period. Pzena Investment Management LLC grew its stake in Charter Communications by 6.1% in the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock valued at $903,932,000 after buying an additional 175,130 shares during the last quarter. Parnassus Investments LLC boosted its holdings in 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 period. Putnam Investments LLC lifted its position in Charter Communications by 24.5% during the fourth quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock worth $479,337,000 after purchasing an additional 242,448 shares during the period. Finally, Norges Bank acquired a new position in shares of Charter Communications during the 4th quarter worth $310,727,000. 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.