Charter Communications Inc. (CHTR) Reaches New 1-Year High at $239.91
Shares of Charter Communications Inc. (NASDAQ:CHTR) reached a new 52-week high during trading on Monday . The stock traded as high as $239.91 and last traded at $239.70, with a volume of 516,259 shares traded. The stock had previously closed at $237.17.
Several analysts recently commented on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of Charter Communications in a report on Thursday, June 30th. Wells Fargo & Co. restated an “outperform” rating on shares of Charter Communications in a report on Thursday, June 30th. Morgan Stanley restated an “overweight” rating on shares of Charter Communications in a report on Wednesday, June 29th. Robert W. Baird restated a “neutral” rating and set a $230.00 price target on shares of Charter Communications in a report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded shares of Charter Communications from a “hold” rating to a “buy” rating and set a $242.00 price target for the company in a report on Tuesday, June 28th. Three 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 company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $249.07.
The company’s market cap is $24.25 billion. The stock has a 50-day moving average price of $225.27 and a 200 day moving average price of $199.14.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, April 28th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.36) by $0.32. The company earned $2.53 billion during the quarter, compared to analyst estimates of $1.66 billion. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.73) EPS. On average, equities research analysts expect that Charter Communications Inc. will post $0.60 EPS for the current fiscal year.
In related news, CMO Jonathan Hargis sold 6,350 shares of the business’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 completion of the transaction, the chief marketing officer now directly owns 13,011 shares in the company, valued at approximately $2,796,714.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several institutional investors have modified their holdings of CHTR. Sei Investments Co. raised its position 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 valued at $1,058,000 after buying an additional 1,143 shares in the last quarter. Korea Investment CORP acquired a new position in shares of Charter Communications during the fourth quarter valued at about $1,226,000. TD Asset Management Inc. raised its position 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 valued at $1,391,000 after buying an additional 1,350 shares in the last quarter. Profund Advisors LLC raised its position 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 valued at $1,463,000 after buying an additional 717 shares in the last quarter. Finally, Bank of Montreal Can raised its position 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 valued at $1,698,000 after buying an additional 1,201 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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