In a report released today, Timothy Horan from Oppenheimer maintained a Hold rating on Charter Communications (NASDAQ: CHTR). The company’s shares opened today at $299.13.
Horan said:
“CHTR reported a mixed 3Q18, with broadband and video subscribers better than expected, but voice worse. Ad revenue was healthy on the back of political-based advertisements, and this should continue in 4Q. CHTR has improved its network and is close to completing its all-digital and DOCSIS 3.1 upgrade. This coupled with synergies related to TWC could help FCF growth of 50%+ in 2019 to $5B, which will help CHTR invest in its wireless service, a current 6% FCF yield. CHTR is focused on broadband/mobile bundles; management believes that Spectrum Mobile can be profitable, but it is looking at Spectrum/network builds, which would hurt FCF. Video remains under pressure and CHTR is not pursuing an OTT video strategy, which could put it behind CMCSA/SKY.”
According to TipRanks.com, Horan is a top 25 analyst with an average return of 15.9% and a 71.3% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Zayo Group Holdings.
Charter Communications has an analyst consensus of Moderate Buy, with a price target consensus of $353.11, which is a 18.0% upside from current levels. In a report issued on October 26, Robert W. Baird also maintained a Hold rating on the stock with a $305 price target.
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The company has a one-year high of $396.64 and a one-year low of $250.10. Currently, Charter Communications has an average volume of 1.49M.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Jonathan Hargis, the EVP of CHTR sold 7,046 shares for a total of $2,095,621.
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Charter Communications, Inc. provides broadband communications services. Its services include Spectrum TV, 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. It operates through Cable Services segment.
