Charter Communications (NASDAQ:CHTR) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Charter Communications (NASDAQ:CHTR) had its price objective hoisted by equities research analysts at Morgan Stanley from $360.00 to $415.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 8.53% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Citigroup raised shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price target for the company in a report on Wednesday, September 11th. Barclays lifted their target price on Charter Communications from $300.00 to $315.00 and gave the stock an “underweight” rating in a report on Monday. Wolfe Research lowered Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price target on the stock. in a report on Monday, September 30th. Bank of America raised shares of Charter Communications from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $385.00 to $450.00 in a research note on Monday. Finally, Wells Fargo & Company increased their target price on shares of Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $379.06.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $382.38 on Monday. The company has a market cap of $54.58 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.66 and a beta of 1.03. Charter Communications has a 1 year low of $236.08 and a 1 year high of $422.92. The stock’s 50 day simple moving average is $333.90 and its two-hundred day simple moving average is $314.01. The company has a debt-to-equity ratio of 5.24, a current ratio of 0.34 and a quick ratio of 0.39.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, topping the consensus estimate of $8.55 by $0.27. The company had revenue of $13.80 billion for the quarter, compared to analysts’ expectations of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. Charter Communications’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.25 earnings per share. As a group, equities analysts anticipate that Charter Communications will post 32.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Reston Wealth Management LLC bought a new position in shares of Charter Communications during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in Charter Communications during the 3rd quarter worth about $28,000. CVA Family Office LLC increased its position in Charter Communications by 5,500.0% during the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after purchasing an additional 110 shares during the period. New Covenant Trust Company N.A. bought a new stake in shares of Charter Communications in the 1st quarter valued at about $34,000. Finally, Grove Bank & Trust raised its holdings in shares of Charter Communications by 39.1% in the 3rd quarter. Grove Bank & Trust now owns 121 shares of the company’s stock valued at $39,000 after purchasing an additional 34 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

Charter Communications Company Profile

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.