Charter Communications (NASDAQ:CHTR) Upgraded to “Buy” at Bank of America

Charter Communications (NASDAQ:CHTR) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Briefing.com reports. The firm presently has a $450.00 price target on the stock, up from their prior price target of $385.00. Bank of America‘s price target would indicate a potential upside of 22.79% from the company’s previous close.

A number of other equities research analysts have also commented on the company. Raymond James lowered Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Rosenblatt Securities raised their target price on shares of Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Pivotal Research boosted their price objective on shares of Charter Communications from $400.00 to $435.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on Charter Communications from $300.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Charter Communications has a consensus rating of “Hold” and a consensus target price of $360.24.

Charter Communications Stock Up 11.9 %

Charter Communications stock opened at $366.49 on Monday. Charter Communications has a fifty-two week low of $236.08 and a fifty-two week high of $424.86. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $52.31 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.59 and a beta of 1.03. The company’s 50 day simple moving average is $333.06 and its 200 day simple moving average is $312.37.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.55 by $0.27. The company had revenue of $13.80 billion during the quarter, compared to analyst estimates of $13.66 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.25 EPS. As a group, sell-side analysts anticipate that Charter Communications will post 32.51 EPS for the current year.

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently made changes to their positions in CHTR. Atria Investments Inc lifted its stake in Charter Communications by 46.3% in the third quarter. Atria Investments Inc now owns 1,121 shares of the company’s stock valued at $363,000 after acquiring an additional 355 shares during the last quarter. Assetmark Inc. lifted its stake in Charter Communications by 14.6% in the 3rd quarter. Assetmark Inc. now owns 4,809 shares of the company’s stock valued at $1,559,000 after purchasing an additional 611 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Charter Communications by 2.3% during the third quarter. Principal Financial Group Inc. now owns 112,103 shares of the company’s stock worth $36,330,000 after purchasing an additional 2,495 shares during the period. Cornerstone Capital Inc. increased its position in Charter Communications by 40.7% during the third quarter. Cornerstone Capital Inc. now owns 37,860 shares of the company’s stock worth $12,270,000 after buying an additional 10,950 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in Charter Communications by 1.2% in the third quarter. Gulf International Bank UK Ltd now owns 7,427 shares of the company’s stock valued at $2,406,000 after buying an additional 89 shares during the period. 81.76% of the stock is owned by institutional investors.

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.