Charter Communications Gets a Hold Rating from Oppenheimer

By Austin Angelo

Oppenheimer analyst Timothy Horan reiterated a Hold rating on Charter Communications (NASDAQ: CHTR) today. The company’s shares opened today at $399.42, close to its 52-week high of $399.95.

Horan wrote:

“Our 2Q17 results comments are on page 3. Importantly, over the weekend there were several news articles suggesting that Sprint/Softbank and Charter have had strategic discussions. Charter is currently not interested in acquiring or partnering with Sprint. However, Softbank sees significant benefit from consolidating Sprint/Charter and may look to acquire all of CHTR. We see $3 billion in annual synergies over time, but capacity could be 3-5x higher on a combined basis than standalone. Charter’s stock is likely to be up this morning as will the rest of the cable industry. The wireless industry is likely to trade down in any transaction.”

According to, Horan is a top 100 analyst with an average return of 12.4% and a 76.2% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Riverbed Technology.

Charter Communications has an analyst consensus of Moderate Buy, with a price target consensus of $376.20.

Based on Charter Communications’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $10.36 billion and quarterly net profit of $139 million. In comparison, last year the company earned revenue of $6.16 billion and had a net profit of $3.07 billion.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2017, David Merritt, a Director at CHTR bought 1,200 shares for a total of $391,572.

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Charter Communications, Inc. provides broadband communications services. Its services include Spectrum TV video entertainment programming, Spectrum Internet access, and Spectrum Voice. It offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Its advertising sales and production services are sold under the Spectrum Reach brand. The company was founded on July 22, 1999 and is headquartered in Stamford, CT.