Charter Communications (NASDAQ:CHTR) Hits New 1-Year High at $634.06

Shares of Charter Communications Inc (NASDAQ:CHTR) hit a new 52-week high during trading on Wednesday . The stock traded as high as $634.06 and last traded at $633.08, with a volume of 2764 shares. The stock had previously closed at $622.55.

Several brokerages recently commented on CHTR. Oppenheimer reaffirmed a “hold” rating on shares of Charter Communications in a report on Friday, July 31st. Argus boosted their price objective on shares of Charter Communications from $590.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Guggenheim boosted their price objective on shares of Charter Communications from $570.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Pivotal Research boosted their price objective on shares of Charter Communications from $730.00 to $800.00 and gave the company a “buy” rating in a report on Friday, September 11th. Finally, Morgan Stanley boosted their price objective on shares of Charter Communications from $650.00 to $700.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Seven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $619.17.

The firm’s 50-day moving average price is $601.57 and its 200 day moving average price is $525.49. The company has a market capitalization of $127.56 billion, a price-to-earnings ratio of 59.23, a PEG ratio of 1.05 and a beta of 1.06. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.13.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, July 31st. The company reported $3.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.53 by $1.10. The business had revenue of $11.70 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Charter Communications had a net margin of 4.85% and a return on equity of 6.05%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS. As a group, equities research analysts anticipate that Charter Communications Inc will post 12.84 earnings per share for the current fiscal year.

In other Charter Communications news, CMO Jonathan Hargis sold 6,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $616.10, for a total transaction of $4,040,383.80. Following the sale, the chief marketing officer now directly owns 34,682 shares of the company’s stock, valued at approximately $21,367,580.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Bickham sold 9,583 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $511.57, for a total transaction of $4,902,375.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,411 shares of company stock valued at $69,581,319. 1.18% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CHTR. Geode Capital Management LLC boosted its holdings in Charter Communications by 4.6% during the first quarter. Geode Capital Management LLC now owns 2,385,773 shares of the company’s stock worth $1,038,890,000 after purchasing an additional 105,169 shares during the last quarter. Wellington Management Group LLP boosted its stake in Charter Communications by 118.1% in the first quarter. Wellington Management Group LLP now owns 2,183,865 shares of the company’s stock valued at $952,841,000 after acquiring an additional 1,182,572 shares during the last quarter. FMR LLC boosted its stake in Charter Communications by 15.0% in the second quarter. FMR LLC now owns 1,707,452 shares of the company’s stock valued at $870,870,000 after acquiring an additional 222,339 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charter Communications by 4.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,647,748 shares of the company’s stock valued at $718,929,000 after acquiring an additional 70,405 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Charter Communications by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,320,848 shares of the company’s stock valued at $673,685,000 after acquiring an additional 22,322 shares during the last quarter. 70.47% of the stock is currently owned by hedge funds and other institutional investors.

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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