Charter Communications Inc. (CHTR) Sees Strong Trading Volume
Shares of Charter Communications Inc. (NASDAQ:CHTR) saw an uptick in trading volume on Friday . 2,037,038 shares were traded during mid-day trading, an increase of 8% from the previous session’s volume of 1,891,575 shares.The stock last traded at $270.09 and had previously closed at $268.82.
A number of research firms have recently weighed in on CHTR. Jefferies Group restated a “hold” rating on shares of Charter Communications in a report on Saturday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Charter Communications from $236.00 to $284.00 and gave the company an “overweight” rating in a report on Wednesday, May 18th. Robert W. Baird restated a “neutral” rating and issued a $230.00 price target on shares of Charter Communications in a report on Tuesday, June 28th. Zacks Investment Research upgraded shares of Charter Communications from a “hold” rating to a “buy” rating and set a $242.00 price target on the stock in a report on Tuesday, June 28th. Finally, Citigroup Inc. restated a “buy” rating and issued a $270.00 price target on shares of Charter Communications in a report on Thursday, June 16th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $271.26.
The firm’s 50-day moving average is $246.60 and its 200-day moving average is $217.96. The stock has a market capitalization of $73.64 billion and a PE ratio of 12.14.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.28. The company had revenue of $9.99 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted ($1.09) earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Charter Communications Inc. will post $0.60 earnings per share for the current year.
In other Charter Communications news, Director Mauricio Ramos purchased 1,000 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 1,997 shares of the company’s stock, valued at approximately $509,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig A. Jacobson sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $258.15, for a total value of $774,450.00. Following the completion of the transaction, the director now directly owns 16,563 shares of the company’s stock, valued at $4,275,738.45. The disclosure for this sale can be found here.
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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