Benchmark Begins Coverage on Charter Communications (NASDAQ:CHTR)

Benchmark began coverage on shares of Charter Communications (NASDAQ:CHTR) in a research report report published on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a hold rating and a $422.00 price objective on the stock.

A number of other equities research analysts have also issued reports on CHTR. Pivotal Research restated a buy rating and issued a $500.00 price target on shares of Charter Communications in a research report on Friday, July 26th. Bank of America restated a buy rating and issued a $450.00 price target (up from $425.00) on shares of Charter Communications in a research report on Tuesday, July 30th. Cowen upped their price target on Charter Communications from $413.00 to $433.00 and gave the company an in-line rating in a research report on Monday, July 29th. Raymond James upped their price target on Charter Communications from $435.00 to $460.00 and gave the company a strong-buy rating in a research report on Monday, July 29th. Finally, ValuEngine lowered Charter Communications from a buy rating to a hold rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Charter Communications presently has an average rating of Hold and a consensus target price of $416.06.

Shares of Charter Communications stock opened at $384.51 on Thursday. The business has a 50 day simple moving average of $396.55 and a two-hundred day simple moving average of $371.95. Charter Communications has a 12 month low of $272.91 and a 12 month high of $417.13. The stock has a market capitalization of $84.37 billion, a P/E ratio of 73.66, a PEG ratio of 1.31 and a beta of 1.23. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.34 and a quick ratio of 0.34.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 26th. The company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.40). Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The firm had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the company earned $1.15 EPS. Charter Communications’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Charter Communications will post 6.91 EPS for the current fiscal year.

In other news, Director Lance Conn sold 927 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total value of $370,800.00. Following the completion of the sale, the director now directly owns 9,552 shares in the company, valued at $3,820,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $389.78, for a total value of $389,780.00. Following the completion of the transaction, the director now owns 11,773 shares of the company’s stock, valued at $4,588,879.94. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Harbor Advisors LLC boosted its position in shares of Charter Communications by 1.8% during the second quarter. Harbor Advisors LLC now owns 27,656 shares of the company’s stock worth $10,929,000 after buying an additional 489 shares during the period. Royal Bank of Canada boosted its position in shares of Charter Communications by 11.8% during the second quarter. Royal Bank of Canada now owns 304,022 shares of the company’s stock worth $120,143,000 after buying an additional 32,132 shares during the period. TPI Fund Managers Ltd purchased a new position in shares of Charter Communications during the second quarter worth $4,873,000. Verition Fund Management LLC boosted its position in shares of Charter Communications by 38.2% during the second quarter. Verition Fund Management LLC now owns 2,229 shares of the company’s stock worth $881,000 after buying an additional 616 shares during the period. Finally, HM Payson & Co. purchased a new position in shares of Charter Communications during the second quarter worth $275,000. Institutional investors own 72.55% of the company’s stock.

Charter Communications Company Profile

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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