StockNews.com Upgrades Charter Communications (NASDAQ:CHTR) to “Buy”

StockNews.com upgraded shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a buy rating in a research report released on Tuesday.

Several other research firms also recently weighed in on CHTR. BNP Paribas raised Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 price target for the company in a research report on Tuesday, November 26th. Barclays raised their price target on Charter Communications from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price target on Charter Communications from $380.00 to $385.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Citigroup started coverage on Charter Communications in a research report on Friday, March 14th. They issued a “buy” rating and a $425.00 price objective for the company. Finally, KeyCorp raised Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a research report on Thursday, December 12th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $389.39.

Charter Communications Stock Performance

NASDAQ CHTR opened at $362.58 on Tuesday. Charter Communications has a 1-year low of $236.08 and a 1-year high of $415.27. The company has a market capitalization of $51.56 billion, a P/E ratio of 10.37, a PEG ratio of 0.44 and a beta of 1.13. The business has a 50 day moving average price of $356.16 and a 200 day moving average price of $354.82. The company has a debt-to-equity ratio of 4.73, a current ratio of 0.31 and a quick ratio of 0.31.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, February 7th. The company reported $10.10 earnings per share for the quarter, beating the consensus estimate of $9.14 by $0.96. Charter Communications had a return on equity of 29.01% and a net margin of 9.23%. During the same period in the prior year, the company posted $7.07 earnings per share. Sell-side analysts expect that Charter Communications will post 38.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CHTR. Norges Bank acquired a new position in shares of Charter Communications during the fourth quarter worth about $1,032,236,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Charter Communications by 822.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,263,721 shares of the company’s stock worth $433,167,000 after purchasing an additional 1,126,783 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Charter Communications by 130.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,078,175 shares of the company’s stock worth $369,566,000 after purchasing an additional 609,554 shares in the last quarter. FMR LLC lifted its stake in shares of Charter Communications by 27.7% during the third quarter. FMR LLC now owns 1,064,948 shares of the company’s stock worth $345,128,000 after purchasing an additional 230,817 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of Charter Communications by 8,343.1% in the fourth quarter. LSV Asset Management now owns 177,305 shares of the company’s stock worth $60,775,000 after acquiring an additional 175,205 shares in the last quarter. 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.