Charter Communications (NASDAQ:CHTR) Given New $400.00 Price Target at JPMorgan Chase & Co.

Charter Communications (NASDAQ:CHTR) had its price objective hoisted by JPMorgan Chase & Co. from $385.00 to $400.00 in a report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Raymond James cut shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research note on Monday, July 29th. Royal Bank of Canada started coverage on Charter Communications in a report on Thursday, September 19th. They issued a “sector perform” rating and a $345.00 price target on the stock. Bank of America upgraded Charter Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $385.00 to $450.00 in a research report on Monday. Morgan Stanley boosted their target price on Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price target on Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $378.47.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $375.83 on Monday. The stock’s 50 day moving average price is $333.47 and its 200 day moving average price is $313.19. The company has a debt-to-equity ratio of 5.24, a current ratio of 0.34 and a quick ratio of 0.39. The stock has a market cap of $53.65 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 0.66 and a beta of 1.03. Charter Communications has a 12 month low of $236.08 and a 12 month high of $422.92.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, beating the consensus estimate of $8.55 by $0.27. The business had revenue of $13.80 billion during the quarter, compared to analyst estimates of $13.66 billion. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.25 earnings per share. Equities research analysts anticipate that Charter Communications will post 32.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its holdings in shares of Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after acquiring an additional 3,685,451 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Charter Communications by 172,425.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock worth $104,188,000 after purchasing an additional 348,299 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Charter Communications by 12,597.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 249,756 shares of the company’s stock worth $80,941,000 after purchasing an additional 247,789 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Charter Communications by 6.1% in the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock valued at $903,932,000 after buying an additional 175,130 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in Charter Communications in the first quarter worth approximately $32,074,000. Hedge funds and other institutional investors 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.