Investors Sell Charter Communications Inc. (CHTR) on Strength (CHTR)
Traders sold shares of Charter Communications Inc. (NASDAQ:CHTR) on strength during trading on Friday. $419.91 million flowed into the stock on the tick-up and $466.44 million flowed out of the stock on the tick-down, for a money net flow of $46.53 million out of the stock. Of all equities tracked, Charter Communications had the 0th highest net out-flow for the day. Charter Communications traded up $11.61 for the day and closed at $268.82
Several research firms recently weighed in on CHTR. Jefferies Group reissued a “hold” rating on shares of Charter Communications in a report on Saturday, June 4th. JPMorgan Chase & Co. raised their price objective on 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 reissued a “neutral” rating and set a $230.00 price objective on shares of Charter Communications in a report on Tuesday, June 28th. Zacks Investment Research raised Charter Communications from a “hold” rating to a “buy” rating and set a $242.00 price objective on the stock in a report on Tuesday, June 28th. Finally, Citigroup Inc. reissued a “buy” rating and set a $270.00 price objective 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Charter Communications has an average rating of “Buy” and a consensus price target of $271.26.
The stock’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 price-to-earnings ratio of 12.14.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned ($1.09) earnings per share. Charter Communications’s revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that Charter Communications Inc. will post $0.60 earnings per share for the current fiscal year.
In other news, EVP Jonathan Hargis sold 7,233 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $253.21, for a total value of $1,831,467.93. Following the completion of the transaction, the executive vice president now owns 13,255 shares of the company’s stock, valued at $3,356,298.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Craig A. Jacobson sold 3,000 shares of the firm’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 transaction 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 approximately $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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