Charter Communications (NASDAQ:CHTR) Price Target Raised to $488.00 at Guggenheim

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Charter Communications (NASDAQ:CHTR) had its price objective boosted by Guggenheim from $440.00 to $488.00 in a research note issued to investors on Thursday morning, AnalystRatings.com reports. Guggenheim currently has a buy rating on the stock.

CHTR has been the subject of several other reports. Wells Fargo & Co initiated coverage on Charter Communications in a research report on Tuesday, August 27th. They issued a market perform rating and a $400.00 price target for the company. Raymond James lifted 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. Citigroup initiated coverage on Charter Communications in a research report on Thursday, June 13th. They issued a buy rating and a $480.00 price target for the company. BidaskClub upgraded Charter Communications from a hold rating to a buy rating in a research report on Friday, September 6th. Finally, Morgan Stanley lifted their price target on Charter Communications from $420.00 to $450.00 and gave the company an overweight rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Charter Communications presently has a consensus rating of Buy and a consensus price target of $418.85.

NASDAQ:CHTR opened at $424.56 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.34 and a quick ratio of 0.34. The business has a fifty day simple moving average of $399.77 and a two-hundred day simple moving average of $382.22. Charter Communications has a 1 year low of $272.91 and a 1 year high of $431.43. The company has a market capitalization of $94.16 billion, a P/E ratio of 81.17, a P/E/G ratio of 1.53 and a beta of 1.22.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 26th. The company reported $1.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.79 by ($0.40). The company had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. Charter Communications’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 earnings per share. As a group, analysts anticipate that Charter Communications will post 6.58 earnings per share for the current year.

In other news, Director Craig A. Jacobson sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total transaction of $389,780.00. Following the completion of the transaction, the director now owns 11,773 shares in the company, valued at $4,588,879.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC increased its stake in shares of Charter Communications by 13,657.3% in the second quarter. Nuveen Asset Management LLC now owns 684,700 shares of the company’s stock valued at $270,579,000 after buying an additional 679,723 shares in the last quarter. Egerton Capital UK LLP increased its holdings in Charter Communications by 21.4% in the 1st quarter. Egerton Capital UK LLP now owns 2,846,860 shares of the company’s stock worth $987,604,000 after purchasing an additional 502,358 shares in the last quarter. FIL Ltd grew its stake in Charter Communications by 416.0% during the first quarter. FIL Ltd now owns 598,353 shares of the company’s stock worth $207,575,000 after purchasing an additional 482,397 shares during the period. Rothschild & Co Wealth Management UK Ltd bought a new position in shares of Charter Communications in the second quarter valued at approximately $159,437,000. Finally, Jackson Square Partners LLC lifted its holdings in Charter Communications by 53.1% during the first quarter. Jackson Square Partners LLC now owns 1,149,607 shares of the company’s stock worth $398,810,000 after acquiring an additional 398,865 shares during the period. Hedge funds and other institutional investors own 72.14% of the company’s stock.

About Charter Communications

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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