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

StockNews.com upgraded shares of Charter Communications (NASDAQ:CHTR – Get Rating) from a hold rating to a buy rating in a research note released on Monday.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of Charter Communications from $700.00 to $575.00 in a research report on Friday, June 17th. Barclays downgraded shares of Charter Communications from an equal weight rating to an underweight rating and reduced their price objective for the stock from $436.00 to $388.00 in a research report on Monday. Bank of America downgraded shares of Charter Communications from a buy rating to a neutral rating in a research report on Tuesday, May 3rd. TD Securities reduced their price objective on shares of Charter Communications from $735.00 to $670.00 in a research report on Wednesday, June 29th. Finally, Pivotal Research cut their target price on shares of Charter Communications from $585.00 to $560.00 in a report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charter Communications presently has an average rating of Hold and an average target price of $655.68.

Charter Communications Stock Down 1.3 %

Shares of Charter Communications stock opened at $426.56 on Monday. Charter Communications has a 52-week low of $407.75 and a 52-week high of $825.62. The company has a 50 day moving average of $470.56 and a 200 day moving average of $521.89. The company has a quick ratio of 0.40, a current ratio of 0.33 and a debt-to-equity ratio of 6.99. The company has a market capitalization of $71.60 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.46 and a beta of 0.91.

Charter Communications (NASDAQ:CHTR – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $8.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.82 by $1.98. Charter Communications had a net margin of 10.35% and a return on equity of 31.83%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.42 billion. During the same quarter in the previous year, the firm earned $5.29 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts forecast that Charter Communications will post 30.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

A number of institutional investors and hedge funds have recently made changes to their positions in CHTR. Blume Capital Management Inc. purchased a new stake in shares of Charter Communications in the 4th quarter worth about $26,000. Masso Torrence Wealth Management Inc. purchased a new stake in shares of Charter Communications in the 4th quarter worth about $26,000. Bivin & Associates Inc. purchased a new stake in shares of Charter Communications in the 4th quarter worth about $26,000. Elequin Capital LP purchased a new stake in shares of Charter Communications in the 1st quarter worth about $26,000. Finally, MCF Advisors LLC purchased a new stake in shares of Charter Communications in the 1st quarter worth about $32,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Charter Communications Company Profile

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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.