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

Charter Communications (NASDAQ:CHTR) had its price target boosted by stock analysts at Barclays from $320.00 to $341.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential downside of 13.05% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Wolfe Research raised Charter Communications from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 20th. Bank of America upped their price objective on Charter Communications from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Wells Fargo & Company lifted their price objective on Charter Communications from $380.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Monday, April 28th. Arete Research raised shares of Charter Communications to a “strong sell” rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley lifted their price target on shares of Charter Communications from $385.00 to $415.00 and gave the stock an “equal weight” rating in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Charter Communications presently has a consensus rating of “Hold” and an average target price of $422.37.

Charter Communications Stock Down 2.3%

Shares of NASDAQ CHTR opened at $392.20 on Monday. The stock has a market capitalization of $55.05 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.43 and a beta of 1.08. Charter Communications has a 52 week low of $304.76 and a 52 week high of $437.06. The firm has a 50-day moving average price of $401.73 and a 200 day moving average price of $371.33. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.54.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, April 25th. The company reported $8.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.70 by ($0.28). The company had revenue of $13.74 billion for the quarter, compared to analyst estimates of $13.67 billion. Charter Communications had a net margin of 9.42% and a return on equity of 27.70%. Charter Communications’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.55 earnings per share. Equities research analysts anticipate that Charter Communications will post 38.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. boosted its position in shares of Charter Communications by 2,033.3% in the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock worth $26,000 after buying an additional 61 shares during the period. SouthState Corp purchased a new stake in shares of Charter Communications during the 1st quarter valued at about $25,000. ST Germain D J Co. Inc. boosted its holdings in Charter Communications by 1,283.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company’s stock valued at $31,000 after purchasing an additional 41 shares during the period. Finally, Strengthening Families & Communities LLC purchased a new stake in Charter Communications during the 1st quarter worth $33,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

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.