Charter Communications (NASDAQ:CHTR) Given New $385.00 Price Target at JPMorgan Chase & Co.

Charter Communications (NASDAQ:CHTR) had its price target raised by research analysts at JPMorgan Chase & Co. from $300.00 to $385.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 2.24% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Pivotal Research boosted their price objective on Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley boosted their price objective on Charter Communications from $300.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft cut their price objective on Charter Communications from $375.00 to $320.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Wells Fargo & Company boosted their price objective on Charter Communications from $260.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Loop Capital cut their price objective on Charter Communications from $335.00 to $285.00 and set a “hold” rating for the company in a report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $354.93.

Charter Communications Stock Performance

Charter Communications stock traded up $8.93 during midday trading on Monday, reaching $376.55. The stock had a trading volume of 846,544 shares, compared to its average volume of 1,469,023. Charter Communications has a 12 month low of $236.08 and a 12 month high of $458.30. The firm’s 50-day moving average price is $292.90 and its 200 day moving average price is $295.14. The firm has a market capitalization of $54.23 billion, a PE ratio of 12.18, a P/E/G ratio of 1.64 and a beta of 1.04. The company has a quick ratio of 0.40, a current ratio of 0.39 and a debt-to-equity ratio of 5.84.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. The business had revenue of $13.69 billion during the quarter, compared to analyst estimates of $13.59 billion. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.05 EPS. As a group, research analysts predict that Charter Communications will post 30.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHTR. Banco Santander S.A. acquired a new stake in shares of Charter Communications in the second quarter valued at $336,000. Whittier Trust Co. grew its stake in shares of Charter Communications by 5.4% in the second quarter. Whittier Trust Co. now owns 2,351 shares of the company’s stock valued at $703,000 after buying an additional 120 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Charter Communications by 55.8% in the second quarter. HB Wealth Management LLC now owns 1,387 shares of the company’s stock valued at $415,000 after buying an additional 497 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Charter Communications by 10.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,445 shares of the company’s stock valued at $1,628,000 after buying an additional 501 shares in the last quarter. Finally, AustralianSuper Pty Ltd acquired a new stake in shares of Charter Communications in the second quarter valued at $7,171,000. 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.