Benchmark Begins Coverage on Charter Communications (NASDAQ:CHTR)

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Benchmark assumed coverage on shares of Charter Communications (NASDAQ:CHTR) in a report published on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a hold rating and a $422.00 target price on the stock.

CHTR has been the subject of several other reports. Morgan Stanley boosted their price target on Charter Communications from $420.00 to $450.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. TD Securities reduced their price target on Charter Communications from $460.00 to $450.00 and set a hold rating for the company in a research report on Monday, July 29th. Pivotal Research reissued a buy rating and issued a $500.00 price target on shares of Charter Communications in a research report on Friday, July 26th. Raymond James boosted their target price on Charter Communications from $435.00 to $460.00 and gave the stock a strong-buy rating in a research note on Monday, July 29th. Finally, ValuEngine downgraded Charter Communications from a buy rating to a hold rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $416.06.

CHTR opened at $384.51 on Thursday. The firm has a market cap of $84.37 billion, a price-to-earnings ratio of 73.66, a PEG ratio of 1.31 and a beta of 1.23. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. Charter Communications has a 12 month low of $272.91 and a 12 month high of $417.13. The stock has a fifty day moving average price of $396.55 and a 200-day moving average price of $371.95.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, July 26th. The company reported $1.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.79 by ($0.40). The company had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.40 billion. Charter Communications had a return on equity of 3.08% and a net margin of 3.04%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. On average, equities research analysts forecast that Charter Communications will post 6.91 EPS for the current year.

In related news, Director Craig A. Jacobson sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $389.78, for a total transaction of $389,780.00. Following the transaction, the director now directly owns 11,773 shares in the company, valued at approximately $4,588,879.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lance Conn sold 927 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total value of $370,800.00. Following the transaction, the director now owns 9,552 shares in the company, valued at $3,820,800. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Charter Communications by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,278,062 shares of the company’s stock valued at $4,852,045,000 after purchasing an additional 78,800 shares during the last quarter. Invesco Ltd. grew its stake in Charter Communications by 1.4% during the 2nd quarter. Invesco Ltd. now owns 4,243,402 shares of the company’s stock valued at $1,676,908,000 after purchasing an additional 58,473 shares during the last quarter. Longview Partners Guernsey LTD grew its stake in Charter Communications by 13.3% during the 2nd quarter. Longview Partners Guernsey LTD now owns 3,238,400 shares of the company’s stock valued at $1,279,751,000 after purchasing an additional 381,226 shares during the last quarter. Egerton Capital UK LLP grew its stake in Charter Communications by 1.5% during the 2nd quarter. Egerton Capital UK LLP now owns 2,889,662 shares of the company’s stock valued at $1,141,937,000 after purchasing an additional 42,802 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Charter Communications by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock valued at $630,980,000 after purchasing an additional 167,729 shares during the last quarter. Institutional investors and hedge funds own 72.55% of the company’s stock.

About Charter Communications

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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