Charter Communications (NASDAQ:CHTR) Reaches New 52-Week High at $429.28

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Charter Communications Inc (NASDAQ:CHTR)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $429.28 and last traded at $429.00, with a volume of 89179 shares traded. The stock had previously closed at $425.00.

A number of analysts have issued reports on the stock. Citigroup assumed coverage on shares of Charter Communications in a research note on Thursday, June 13th. They set a “buy” rating and a $480.00 price target on the stock. Bank of America reiterated a “buy” rating and set a $450.00 price target (up from $425.00) on shares of Charter Communications in a research note on Tuesday, July 30th. Wells Fargo & Co assumed coverage on shares of Charter Communications in a research note on Tuesday, August 27th. They set a “market perform” rating and a $400.00 price target on the stock. TD Securities cut their price target on shares of Charter Communications from $460.00 to $450.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Morgan Stanley boosted their price target on shares of Charter Communications from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $415.21.

The firm has a market capitalization of $93.32 billion, a price-to-earnings ratio of 82.07, a P/E/G ratio of 1.48 and a beta of 1.22. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.67. The stock has a 50-day moving average price of $396.30 and a 200 day moving average price of $379.52.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 26th. The company reported $1.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.79 by ($0.40). The business had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.40 billion. Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. As a group, equities analysts forecast that Charter Communications Inc will post 6.73 earnings per share for the current fiscal year.

In related news, Director Lance Conn sold 927 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total value of $370,800.00. Following the completion of the transaction, the director now directly owns 9,552 shares of the company’s stock, valued at $3,820,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total value of $389,780.00. Following the completion of the sale, the director now directly owns 11,773 shares of the company’s stock, valued at $4,588,879.94. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Charter Communications by 0.6% in the second quarter. Vanguard Group Inc. now owns 12,278,062 shares of the company’s stock valued at $4,852,045,000 after acquiring an additional 78,800 shares during the period. Invesco Ltd. raised its stake in shares of Charter Communications by 1.4% during the second quarter. Invesco Ltd. now owns 4,243,402 shares of the company’s stock worth $1,676,908,000 after purchasing an additional 58,473 shares during the last quarter. Longview Partners Guernsey LTD raised its stake in shares of Charter Communications by 13.3% during the second quarter. Longview Partners Guernsey LTD now owns 3,238,400 shares of the company’s stock worth $1,279,751,000 after purchasing an additional 381,226 shares during the last quarter. Egerton Capital UK LLP raised its stake in shares of Charter Communications by 1.5% during the second quarter. Egerton Capital UK LLP now owns 2,889,662 shares of the company’s stock worth $1,141,937,000 after purchasing an additional 42,802 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Charter Communications by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock worth $630,980,000 after purchasing an additional 167,729 shares during the last quarter. 72.18% of the stock is owned by institutional investors and hedge funds.

Charter Communications Company Profile (NASDAQ:CHTR)

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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