“We made modest changes to our ’18 and beyond forecasts mainly around the ramp in free cash flow although we still forecast $40 in FCF share forecast in ’20. The changes drove a $5 increase in our YE’17 target price to $405. This target is based on CHTR trading at 10X’18 EBITDA (adding back NPV of NOL) and 20X ’18 FCF vs. 9.4X and 18X currently. Reiterate BUY.”,” the firm’s analyst wrote.
Other analysts have also issued reports about the company. Goldman Sachs Group, Inc. (The) reiterated a neutral rating on shares of Charter Communications in a research report on Wednesday, June 28th. BidaskClub lowered Charter Communications from a buy rating to a hold rating in a research report on Thursday, June 22nd. Wunderlich lowered Charter Communications from a buy rating to a hold rating and lowered their price objective for the stock from $360.00 to $350.00 in a research report on Wednesday, May 3rd. SunTrust Banks, Inc. began coverage on Charter Communications in a research report on Tuesday, April 18th. They issued a buy rating and a $380.00 price objective for the company. Finally, Macquarie reiterated a buy rating and issued a $365.00 price objective on shares of Charter Communications in a research report on Tuesday, May 2nd. Eleven research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $369.96.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.29. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.38 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Charter Communications will post $0.60 earnings per share for the current year.
In related news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $399.00, for a total value of $4,379,424.00. Following the completion of the transaction, the executive vice president now directly owns 18,025 shares in the company, valued at approximately $7,191,975. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of CHTR. Burt Wealth Advisors acquired a new position in shares of Charter Communications during the first quarter valued at about $115,000. Cornerstone Advisors Inc. raised its position in shares of Charter Communications by 4.9% in the second quarter. Cornerstone Advisors Inc. now owns 343 shares of the company’s stock valued at $116,000 after buying an additional 16 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Charter Communications by 43.3% in the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after buying an additional 93 shares in the last quarter. Barrett Asset Management LLC raised its position in shares of Charter Communications by 118.7% in the second quarter. Barrett Asset Management LLC now owns 398 shares of the company’s stock valued at $134,000 after buying an additional 216 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Charter Communications by 50.7% in the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after buying an additional 151 shares in the last quarter. Institutional investors and hedge funds own 77.79% of the company’s stock.
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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