Charter Communications Inc. (CHTR) Reaches New 52-Week High at $239.91
Charter Communications Inc. (NASDAQ:CHTR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $239.91 and last traded at $239.70, with a volume of 516,259 shares. The stock had previously closed at $237.17.
CHTR has been the subject of a number of research analyst reports. Barclays PLC raised their price target on Charter Communications from $204.00 to $238.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 26th. JPMorgan Chase & Co. raised their price target on Charter Communications from $236.00 to $284.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 18th. Deutsche Bank AG reissued a “buy” rating and set a $285.00 price target on shares of Charter Communications in a research note on Sunday, May 22nd. Morgan Stanley initiated coverage on Charter Communications in a research note on Tuesday, June 14th. They set an “overweight” rating and a $265.00 price target for the company. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday, April 6th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $249.07.
The firm’s market cap is $24.34 billion. The firm has a 50-day moving average of $224.68 and a 200 day moving average of $198.17.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data 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 analysts’ expectations of $1.66 billion. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.73) EPS. Analysts predict that Charter Communications Inc. will post $0.60 earnings per share for the current year.
In related 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 value of $1,364,932.50. Following the transaction, the chief marketing officer now directly owns 13,011 shares in the company, valued at $2,796,714.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of hedge funds and institutional investors have added to or reduced their stakes in CHTR. Egerton Capital UK LLP boosted its position in Charter Communications by 4.7% in the fourth quarter. Egerton Capital UK LLP now owns 2,151,727 shares of the company’s stock worth $393,981,000 after buying an additional 96,897 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in Charter Communications by 0.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 209,846 shares of the company’s stock worth $38,423,000 after buying an additional 1,019 shares in the last quarter. Cibc World Markets Corp boosted its position in Charter Communications by 20.1% in the fourth quarter. Cibc World Markets Corp now owns 9,308 shares of the company’s stock worth $1,704,000 after buying an additional 1,556 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in Charter Communications during the fourth quarter worth approximately $1,739,000. Finally, UBS Oconnor LLC acquired a new position in Charter Communications during the fourth quarter worth approximately $4,806,000.
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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