Charter Communications (NASDAQ:CHTR) Trading Up 5.2% – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR) shares traded up 5.2% during trading on Tuesday . The company traded as high as $396.24 and last traded at $384.84. 844,394 shares traded hands during trading, a decline of 38% from the average session volume of 1,368,604 shares. The stock had previously closed at $365.96.

Analysts Set New Price Targets

CHTR has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Benchmark boosted their target price on shares of Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley upped their price target on shares of Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on shares of Charter Communications from $385.00 to $400.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Bank of America upgraded shares of Charter Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $385.00 to $450.00 in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Charter Communications presently has a consensus rating of “Hold” and a consensus target price of $378.00.

Charter Communications Trading Up 3.3 %

The company’s 50 day simple moving average is $362.06 and its two-hundred day simple moving average is $335.09. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. The company has a market capitalization of $53.75 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.64 and a beta of 1.08.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The firm had revenue of $13.80 billion during the quarter, compared to analysts’ expectations of $13.66 billion. During the same quarter last year, the firm earned $8.25 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts anticipate that Charter Communications, Inc. will post 32.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

A number of large investors have recently modified their holdings of CHTR. Oddo BHF Asset Management Sas acquired a new position in Charter Communications during the 3rd quarter valued at approximately $1,345,000. Franklin Resources Inc. increased its position in shares of Charter Communications by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock valued at $1,052,868,000 after acquiring an additional 148,003 shares during the period. Tidal Investments LLC raised its stake in Charter Communications by 1.3% in the 3rd quarter. Tidal Investments LLC now owns 17,261 shares of the company’s stock worth $5,594,000 after acquiring an additional 229 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Charter Communications during the 3rd quarter worth about $165,000. Finally, Sanctuary Advisors LLC grew its stake in Charter Communications by 51.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,159 shares of the company’s stock valued at $1,996,000 after purchasing an additional 2,105 shares during the last quarter. 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.