Charter Communications Inc. (CHTR) Shares Gap Up to $234.87
Charter Communications Inc. (NASDAQ:CHTR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $234.18, but opened at $234.87. Charter Communications shares last traded at $237.03, with a volume of 633,714 shares changing hands.
CHTR has been the topic of a number of research reports. Deutsche Bank AG raised their price objective on Charter Communications from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 12th. Wunderlich raised their price objective on Charter Communications from $221.00 to $254.00 and gave the company a “buy” rating in a report on Monday, May 2nd. Wells Fargo & Co. reissued a “buy” rating on shares of Charter Communications in a report on Wednesday, April 6th. Pivotal Research reissued a “buy” rating and set a $285.00 price objective (up from $250.00) on shares of Charter Communications in a report on Tuesday, May 24th. Finally, Citigroup Inc. reissued a “buy” rating and set a $270.00 price objective on shares of Charter Communications in a report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $249.07.
The company’s 50-day moving average price is $224.68 and its 200-day moving average price is $198.17. The stock’s market capitalization is $24.12 billion.
Charter Communications (NASDAQ:CHTR) last posted its earnings results on Thursday, April 28th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by $0.32. The company earned $2.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company earned ($0.73) EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that Charter Communications Inc. will post $0.60 earnings per share for the current year.
In other Charter Communications news, CMO Jonathan Hargis sold 6,350 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $214.95, for a total transaction of $1,364,932.50. Following the sale, the chief marketing officer now directly owns 13,011 shares in the company, valued at $2,796,714.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
A number of large investors recently modified their holdings of CHTR. Sei Investments Co. increased its stake in shares of Charter Communications by 24.6% in the fourth quarter. Sei Investments Co. now owns 5,781 shares of the company’s stock worth $1,058,000 after buying an additional 1,143 shares during the period. Korea Investment CORP bought a new stake in shares of Charter Communications during the fourth quarter worth about $1,226,000. TD Asset Management Inc. increased its stake in shares of Charter Communications by 21.6% in the fourth quarter. TD Asset Management Inc. now owns 7,599 shares of the company’s stock worth $1,391,000 after buying an additional 1,350 shares during the period. Profund Advisors LLC increased its stake in shares of Charter Communications by 9.9% in the fourth quarter. Profund Advisors LLC now owns 7,992 shares of the company’s stock worth $1,463,000 after buying an additional 717 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Charter Communications by 14.9% in the fourth quarter. Bank of Montreal Can now owns 9,277 shares of the company’s stock worth $1,698,000 after buying an additional 1,201 shares during the period.
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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