Charter Communications Inc. (CHTR) Reaches New 1-Year High at $269.88
Charter Communications Inc. (NASDAQ:CHTR)’s share price reached a new 52-week high on Thursday . The stock traded as high as $269.88 and last traded at $269.79, with a volume of 4,172,370 shares trading hands. The stock had previously closed at $257.21.
Several equities analysts have recently weighed in on the company. Jefferies Group reissued a “hold” rating on shares of Charter Communications in a report on Saturday, June 4th. Wells Fargo & Co. reissued an “outperform” rating on shares of Charter Communications in a report on Thursday, June 30th. Wunderlich increased their price target on Charter Communications from $254.00 to $280.00 and gave the company a “buy” rating in a report on Monday, June 20th. Citigroup Inc. restated a “buy” rating and issued a $270.00 price objective on shares of Charter Communications in a research note on Thursday, June 16th. Finally, Pivotal Research upped their price objective on Charter Communications from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $271.26.
The company’s 50-day moving average price is $246.60 and its 200-day moving average price is $218.34. The company has a market cap of $73.64 billion and a PE ratio of 12.14.
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 analysts’ consensus estimates of $0.71 by $0.28. The company earned $9.99 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm posted ($1.09) earnings per share. Charter Communications’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts predict that Charter Communications Inc. will post $0.60 earnings per share for the current fiscal year.
In other Charter Communications news, Director Mauricio Ramos purchased 1,000 shares of Charter Communications stock in a transaction on Thursday, August 18th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 1,997 shares in the company, valued at approximately $509,235. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Hargis sold 7,233 shares of Charter Communications stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $253.21, for a total transaction of $1,831,467.93. Following the transaction, the executive vice president now directly owns 13,255 shares in the company, valued at $3,356,298.55. 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.