Charter Communications Inc. (CHTR) Sees Strong Trading Volume
Charter Communications Inc. (NASDAQ:CHTR) saw unusually-strong trading volume on Friday . Approximately 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.
Several equities research analysts have commented on CHTR shares. Pivotal Research restated a “buy” rating and issued a $285.00 price objective (up previously from $250.00) on shares of Charter Communications in a research report on Tuesday, May 24th. Jefferies Group restated a “hold” rating on shares of Charter Communications in a research report on Saturday, June 4th. Barclays PLC upped their price objective on Charter Communications from $204.00 to $238.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 26th. Deutsche Bank AG upped their price objective on Charter Communications from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, May 12th. Finally, Raymond James Financial Inc. upgraded Charter Communications from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $156.13 to $218.94 in a research report on Wednesday, June 1st. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $271.26.
The company has a market capitalization of $73.64 billion and a price-to-earnings ratio of 12.14. The stock has a 50 day moving average price of $246.60 and a 200 day moving average price of $218.34.
Charter Communications (NASDAQ:CHTR) last released its earnings results on Tuesday, August 9th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.28. During the same period in the previous year, the firm posted ($1.09) EPS. The company earned $9.99 billion during the quarter, compared to analyst estimates of $1.66 billion. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that Charter Communications Inc. will post $0.60 earnings per share for the current fiscal year.
In related news, Director Mauricio Ramos bought 1,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 1,997 shares in the company, valued at approximately $509,235. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig A. Jacobson sold 3,000 shares of the business’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 in the company, valued at approximately $4,275,738.45. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Charter Communications stock. Ameriprise Financial Inc. increased its position in shares of Charter Communications Inc. (NASDAQ:CHTR) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,962 shares of the company’s stock after buying an additional 534 shares during the period. Ameriprise Financial Inc.’s holdings in Charter Communications were worth $2,190,000 as of its most recent SEC filing.
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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