Charter Communications Inc. (CHTR) Reaches New 1-Year High at $244.44
Charter Communications Inc. (NASDAQ:CHTR)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $244.44 and last traded at $244.00, with a volume of 987,604 shares changing hands. The stock had previously closed at $240.48.
Several equities analysts have recently commented on CHTR shares. Morgan Stanley restated an “overweight” rating on shares of Charter Communications in a report on Wednesday, June 29th. Wunderlich boosted their price target on shares of Charter Communications from $254.00 to $280.00 and gave the company a “buy” rating in a report on Monday, June 20th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Charter Communications in a research note on Wednesday, April 6th. Raymond James Financial Inc. raised shares of Charter Communications from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $156.13 to $218.94 in a research note on Wednesday, June 1st. Finally, Barclays PLC lifted their price objective on shares of Charter Communications from $204.00 to $238.00 and gave the company an “equal weight” rating in a research note on Thursday, May 26th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $252.46.
The firm’s 50 day moving average price is $227.84 and its 200-day moving average price is $201.46. The firm’s market cap is $24.73 billion.
Charter Communications (NASDAQ:CHTR) last announced its quarterly 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 business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company posted ($0.73) EPS. Charter Communications’s revenue was up 7.1% on a year-over-year basis. Equities analysts expect that Charter Communications Inc. will post $0.60 EPS for the current year.
In other news, CMO Jonathan Hargis sold 6,350 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $214.95, for a total transaction of $1,364,932.50. Following the completion of the sale, the chief marketing officer now owns 13,011 shares in the company, valued at approximately $2,796,714.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Several hedge funds recently bought and sold shares of the company. Sei Investments Co. boosted its stake in 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 in the last quarter. TD Asset Management Inc. boosted its stake in 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 in the last quarter. PNC Financial Services Group Inc. boosted its stake in Charter Communications by 86.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,172 shares of the company’s stock worth $2,961,000 after buying an additional 7,495 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Charter Communications by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 173,600 shares of the company’s stock worth $31,786,000 after buying an additional 1,000 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Charter Communications by 36.9% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 29,300 shares of the company’s stock worth $5,365,000 after buying an additional 7,900 shares in the last quarter.
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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