Charter Communications (NASDAQ:CHTR) Upgraded at Sanford C. Bernstein

Key Points

• Charter Communications has been upgraded by Sanford C. Bernstein from a "market perform" to an "outperform" rating, with a target price of $380.00, suggesting a potential upside of 22.68% from the previous close.
• Recent earnings data indicates that Charter reported $9.18 earnings per share, missing estimates, but revenue increased by .6% year-over-year, reaching $13.77 billion.
• Institutional investors hold 81.76% of Charter’s shares, with significant recent purchases signaling increased institutional confidence in the stock.

Charter Communications (NASDAQ:CHTR - Get Free Report) was upgraded by stock analysts at Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Monday. The brokerage currently has a $380.00 price objective on the stock. Sanford C. Bernstein's target price would suggest a potential upside of 22.68% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Oppenheimer upgraded shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 target price on the stock in a research note on Friday, May 16th. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Arete Research upgraded shares of Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Morgan Stanley increased their price objective on shares of Charter Communications from $385.00 to $415.00 and gave the stock an "equal weight" rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company increased their price objective on shares of Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $420.79.

Charter Communications Price Performance

CHTR stock opened at $309.75 on Monday. The firm has a 50 day moving average of $396.12 and a 200-day moving average of $373.57. Charter Communications has a 12-month low of $307.34 and a 12-month high of $437.06. The company has a current ratio of 0.33, a quick ratio of 0.36 and a debt-to-equity ratio of 4.57. The company has a market cap of $43.48 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 0.34 and a beta of 1.08.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). The company had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.49 earnings per share. As a group, equities analysts expect that Charter Communications will post 38.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Salem Investment Counselors Inc. grew its position in Charter Communications by 2,033.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company's stock worth $26,000 after purchasing an additional 61 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Charter Communications in the 2nd quarter worth $28,000. SouthState Corp acquired a new stake in shares of Charter Communications during the 1st quarter valued at about $25,000. Family CFO Inc acquired a new position in Charter Communications in the second quarter valued at about $33,000. Finally, ST Germain D J Co. Inc. boosted its position in Charter Communications by 1,283.3% in the first quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after buying an additional 77 shares in the last quarter. Institutional investors own 81.76% of the company's stock.

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.

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