Charter Communications, Inc. (CHTR) Shares Gap Up After Analyst Upgrade

Charter Communications, Inc. (NASDAQ:CHTR) shares gapped up before the market opened on Monday after Telsey Advisory Group upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $341.10, but opened at $370.26. Telsey Advisory Group now has a $450.00 price target on the stock, up from their previous price target of $340.00. Charter Communications shares last traded at $391.91, with a volume of 6,271,449 shares traded.

A number of other research analysts have also commented on CHTR. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Charter Communications in a research report on Wednesday, June 28th. Morgan Stanley upped their target price on shares of Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Macquarie reissued a “buy” rating and issued a $365.00 target price on shares of Charter Communications in a research note on Tuesday, May 2nd. Deutsche Bank AG lowered their target price on shares of Charter Communications from $400.00 to $390.00 and set a “buy” rating on the stock in a research note on Thursday, May 4th. Finally, HSBC Holdings plc reissued a “hold” rating and issued a $360.00 target price (up previously from $300.00) on shares of Charter Communications in a research note on Tuesday, August 1st. Eleven analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $369.96.

In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $399.00, for a total value of $4,379,424.00. Following the sale, the executive vice president now directly owns 18,025 shares in the company, valued at $7,191,975. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board increased its position in Charter Communications by 224,189.3% in the first quarter. Canada Pension Plan Investment Board now owns 62,801 shares of the company’s stock worth $20,556,000 after buying an additional 62,773 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Charter Communications by 10.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,934 shares of the company’s stock worth $5,870,000 after buying an additional 1,696 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Charter Communications by 1.7% in the first quarter. Wetherby Asset Management Inc. now owns 3,311 shares of the company’s stock worth $1,084,000 after buying an additional 54 shares during the period. Dowling & Yahnke LLC purchased a new position in shares of Charter Communications during the first quarter worth approximately $203,000. Finally, IFP Advisors Inc increased its position in shares of Charter Communications by 8.4% in the first quarter. IFP Advisors Inc now owns 3,475 shares of the company’s stock worth $1,137,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 77.79% of the company’s stock.

The company’s 50-day moving average price is $364.56 and its 200 day moving average price is $338.53. The stock has a market capitalization of $101.34 billion, a P/E ratio of 112.57 and a beta of 1.09.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.29. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. During the same quarter in the previous year, the company earned $0.99 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. On average, analysts expect that Charter Communications, Inc. will post $0.60 earnings per share for the current year.

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Charter Communications Company Profile

Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.

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