Royal Bank of Canada Initiates Coverage on Charter Communications (NASDAQ:CHTR)

Royal Bank of Canada started coverage on shares of Charter Communications (NASDAQ:CHTR) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a sector perform rating and a $345.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Barclays boosted their target price on shares of Charter Communications from $250.00 to $300.00 and gave the stock an underweight rating in a report on Monday, July 29th. TD Cowen increased their price objective on Charter Communications from $488.00 to $525.00 and gave the company a buy rating in a report on Monday, July 29th. Pivotal Research raised their target price on Charter Communications from $400.00 to $435.00 and gave the stock a buy rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price target on Charter Communications from $260.00 to $350.00 and gave the company an equal weight rating in a research report on Monday, July 29th. Finally, Rosenblatt Securities raised their price objective on Charter Communications from $292.00 to $329.00 and gave the stock a neutral rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $359.94.

Charter Communications Stock Down 0.3 %

Shares of CHTR opened at $330.40 on Thursday. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.39 and a current ratio of 0.39. Charter Communications has a 52 week low of $236.08 and a 52 week high of $458.30. The stock has a market capitalization of $47.59 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.61 and a beta of 1.05. The stock has a fifty day moving average of $344.81 and a 200-day moving average of $302.50.

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

Hedge Funds Weigh In On Charter Communications

Several institutional investors have recently made changes to their positions in CHTR. CVA Family Office LLC raised its stake in Charter Communications by 5,500.0% during the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock worth $33,000 after buying an additional 110 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of Charter Communications during the first quarter worth approximately $34,000. Riverview Trust Co bought a new position in shares of Charter Communications in the 1st quarter worth $40,000. Massmutual Trust Co. FSB ADV grew its position in Charter Communications by 109.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock valued at $48,000 after purchasing an additional 83 shares during the period. Finally, Beach Investment Counsel Inc. PA bought a new stake in Charter Communications during the 2nd quarter valued at $50,000. 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.