Morgan Stanley Boosts Charter Communications (NASDAQ:CHTR) Price Target to $600.00

Charter Communications (NASDAQ:CHTR – Get Rating) had its target price boosted by Morgan Stanley from $550.00 to $600.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 21.45% from the company’s previous close.

Other research analysts have also issued reports about the company. Benchmark decreased their price objective on Charter Communications from $825.00 to $805.00 and set a “buy” rating on the stock in a research report on Monday, May 2nd. TheStreet lowered Charter Communications from a “b-” rating to a “c+” rating in a research report on Monday, May 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Charter Communications from $650.00 to $575.00 in a research report on Monday, May 2nd. Wells Fargo & Company reduced their price target on Charter Communications from $603.00 to $393.00 in a research report on Monday, May 2nd. Finally, StockNews.com began coverage on Charter Communications in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charter Communications has a consensus rating of “Hold” and a consensus price target of $687.35.

CHTR traded down $1.35 during mid-day trading on Thursday, reaching $494.03. The stock had a trading volume of 11,223 shares, compared to its average volume of 1,423,958. The stock has a market capitalization of $82.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.54 and a beta of 1.02. The company has a debt-to-equity ratio of 5.69, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s fifty day simple moving average is $509.12 and its two-hundred day simple moving average is $577.77. Charter Communications has a 52 week low of $410.33 and a 52 week high of $825.62.

Charter Communications (NASDAQ:CHTR – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $6.46 by $0.44. The firm had revenue of $13.20 billion for the quarter, compared to analyst estimates of $13.21 billion. Charter Communications had a return on equity of 25.34% and a net margin of 9.64%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $4.11 EPS. As a group, analysts expect that Charter Communications will post 29.67 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Charter Communications by 67.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,189,146 shares of the company’s stock valued at $2,285,264,000 after buying an additional 1,680,069 shares during the period. Norges Bank acquired a new position in Charter Communications during the fourth quarter valued at approximately $429,797,000. Veritas Asset Management LLP raised its position 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 valued at $1,710,529,000 after purchasing an additional 631,800 shares in the last quarter. GQG Partners LLC raised its position in Charter Communications by 31.4% during the third quarter. GQG Partners LLC now owns 1,888,381 shares of the company’s stock valued at $1,373,693,000 after purchasing an additional 450,710 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Charter Communications by 462.8% during the first quarter. Renaissance Technologies LLC now owns 541,400 shares of the company’s stock valued at $295,345,000 after purchasing an additional 445,200 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

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.

Further Reading

• Get a free copy of the StockNews.com research report on Charter Communications (CHTR)
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