Charter Communications (NASDAQ:CHTR) Stock Price Up 3.6% – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR) shares traded up 3.6% on Tuesday . The stock traded as high as $335.00 and last traded at $326.67. 258,266 shares changed hands during trading, a decline of 81% from the average session volume of 1,364,445 shares. The stock had previously closed at $315.41.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America lifted their price objective on Charter Communications from $360.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Rosenblatt Securities boosted their price target on Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Barclays lifted their target price on shares of Charter Communications from $250.00 to $300.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their target price on shares of Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Raymond James lowered shares of Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Charter Communications currently has an average rating of “Hold” and an average target price of $356.41.

Charter Communications Stock Performance

The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 5.84. The firm has a 50-day simple moving average of $335.82 and a 200 day simple moving average of $307.88. The company has a market cap of $47.08 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The firm had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter in the previous year, the firm posted $8.05 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts predict that Charter Communications, Inc. will post 32.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Several institutional investors have recently bought and sold shares of CHTR. Greenleaf Trust lifted its holdings in shares of Charter Communications by 6.2% in the 3rd quarter. Greenleaf Trust now owns 2,126 shares of the company’s stock valued at $689,000 after buying an additional 125 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Charter Communications in the third quarter valued at about $235,000. Signaturefd LLC boosted its holdings in Charter Communications by 10.6% during the third quarter. Signaturefd LLC now owns 1,232 shares of the company’s stock worth $399,000 after buying an additional 118 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Charter Communications by 14.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,618 shares of the company’s stock worth $848,000 after buying an additional 327 shares during the period. Finally, Friedenthal Financial purchased a new position in Charter Communications in the third quarter valued at about $754,000. 81.76% of the stock is owned by institutional investors and hedge funds.

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.