Charter Communications (NASDAQ:CHTR) Lifted to “Neutral” at Citigroup

Citigroup upgraded shares of Charter Communications (NASDAQ:CHTR) from a sell rating to a neutral rating in a report published on Wednesday, Marketbeat reports. Citigroup currently has $350.00 target price on the stock.

A number of other equities research analysts have also issued reports on CHTR. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charter Communications from $300.00 to $325.00 and gave the stock a hold rating in a report on Monday, July 29th. Bank of America increased their price objective on shares of Charter Communications from $360.00 to $385.00 and gave the company a neutral rating in a report on Monday, July 29th. TD Cowen raised their target price on shares of Charter Communications from $488.00 to $525.00 and gave the stock a buy rating in a research note on Monday, July 29th. Pivotal Research upped their price target on Charter Communications from $400.00 to $435.00 and gave the company a buy rating in a research report on Monday, July 29th. Finally, Morgan Stanley lifted their price objective on Charter Communications from $330.00 to $360.00 and gave the stock an equal weight rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $360.93.

Charter Communications Price Performance

NASDAQ:CHTR opened at $327.42 on Wednesday. The stock has a 50 day moving average of $339.47 and a two-hundred day moving average of $299.90. Charter Communications has a 12 month low of $236.08 and a 12 month high of $458.30. The firm has a market cap of $46.74 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 0.61 and a beta of 1.05. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The firm had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. During the same period in the previous year, the company posted $8.05 earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, analysts expect that Charter Communications will post 32.52 earnings per share for the current fiscal year.

Institutional Trading of Charter Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CVA Family Office LLC lifted its position in Charter Communications by 5,500.0% in the second quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after buying an additional 110 shares during the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Charter Communications in the 1st quarter valued at approximately $34,000. Riverview Trust Co acquired a new position in shares of Charter Communications in the 1st quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Charter Communications by 109.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock worth $48,000 after purchasing an additional 83 shares during the period. Finally, Beach Investment Counsel Inc. PA acquired a new stake in Charter Communications in the 2nd quarter valued at approximately $50,000. 81.76% of the stock is owned by institutional investors and hedge funds.

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.