Benchmark Cuts Charter Communications (NASDAQ:CHTR) Price Target to $805.00

Charter Communications (NASDAQ:CHTRGet Rating) had its target price reduced by equities research analysts at Benchmark from $825.00 to $805.00 in a research report issued on Monday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s target price points to a potential upside of 87.87% from the stock’s current price.

Other analysts also recently issued research reports about the company. Barclays lowered their target price on Charter Communications from $599.00 to $436.00 in a research note on Monday. StockNews.com began coverage on Charter Communications in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. BNP Paribas downgraded Charter Communications from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 18th. Truist Financial downgraded Charter Communications from a “buy” rating to a “hold” rating and lowered their target price for the stock from $830.00 to $600.00 in a research note on Tuesday, March 1st. Finally, Wolfe Research downgraded Charter Communications from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $712.00 to $621.00 in a research note on Monday, January 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $720.40.

Charter Communications stock opened at $428.49 on Monday. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50-day simple moving average is $553.75 and its two-hundred day simple moving average is $612.89. The company has a market cap of $74.02 billion, a PE ratio of 15.51, a PEG ratio of 0.46 and a beta of 0.94. Charter Communications has a fifty-two week low of $415.01 and a fifty-two week high of $825.62.

Charter Communications (NASDAQ:CHTRGet Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $6.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.51 by $0.39. The business had revenue of $13.20 billion for the quarter, compared to the consensus estimate of $13.21 billion. Charter Communications had a return on equity of 20.47% and a net margin of 9.01%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.11 EPS. As a group, analysts predict that Charter Communications will post 29.88 EPS for the current fiscal year.

In related news, COO Christopher L. Winfrey purchased 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, February 1st. The stock was purchased at an average price of $591.96 per share, with a total value of $1,627,890.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.96% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Charter Communications by 3.1% during the fourth quarter. BlackRock Inc. now owns 8,655,420 shares of the company’s stock worth $5,643,072,000 after acquiring an additional 260,167 shares during the last quarter. State Street Corp increased its stake in Charter Communications by 2.9% during the fourth quarter. State Street Corp now owns 5,922,241 shares of the company’s stock worth $3,861,123,000 after acquiring an additional 168,261 shares during the last quarter. Veritas Asset Management LLP increased its stake in Charter Communications by 31.7% during the fourth quarter. Veritas Asset Management LLP now owns 2,623,631 shares of the company’s stock worth $1,710,529,000 after acquiring an additional 631,800 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Charter Communications by 23.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,509,077 shares of the company’s stock worth $1,635,843,000 after acquiring an additional 470,982 shares during the last quarter. Finally, Capital World Investors increased its stake in Charter Communications by 7.4% during the fourth quarter. Capital World Investors now owns 2,137,400 shares of the company’s stock worth $1,393,521,000 after acquiring an additional 147,965 shares during the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

About Charter Communications (Get Rating)

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 video services, including video on demand, high-definition television, digital video recorder, pay-per-view services.

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