RBC Capital Believes Charter Communications (NASDAQ: CHTR) Won’t Stop Here

By Carrie Williams

RBC Capital analyst Jonathan Atkin reiterated a Buy rating on Charter Communications (NASDAQ: CHTR) today and set a price target of $356. The company’s shares opened today at $329.59, close to its 52-week high of $350.38.

According to TipRanks.com, Atkin is a top 25 analyst with an average return of 16.5% and a 84.5% success rate. Atkin covers the Technology sector, focusing on stocks such as Frontier Communications Corporation, Interxion Holding NV, and Zayo Group Holdings.

Charter Communications has an analyst consensus of Moderate Buy, with a price target consensus of $360.25.

Based on Charter Communications’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $10.16 billion and quarterly net profit of $155 million. In comparison, last year the company earned revenue of $2.53 billion and had a GAAP net loss of $188 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Earlier this month, David Merritt, a Director at CHTR bought 1,200 shares for a total of $391,572.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.