Investors Buy Shares of Charter Communications, Inc. (CHTR) on Weakness
Investors purchased shares of Charter Communications, Inc. (NASDAQ:CHTR) on weakness during trading hours on Friday. $216.50 million flowed into the stock on the tick-up and $144.47 million flowed out of the stock on the tick-down, for a money net flow of $72.03 million into the stock. Of all equities tracked, Charter Communications had the 12th highest net in-flow for the day. Charter Communications traded down ($0.78) for the day and closed at $360.30
Several brokerages recently commented on CHTR. Royal Bank Of Canada reissued a “buy” rating and issued a $420.00 price target on shares of Charter Communications in a research note on Monday, September 18th. HSBC Holdings plc reaffirmed a “hold” rating and set a $360.00 target price (up previously from $300.00) on shares of Charter Communications in a research report on Tuesday, August 1st. UBS AG reaffirmed a “buy” rating and set a $450.00 target price (up previously from $380.00) on shares of Charter Communications in a research report on Monday, August 14th. Evercore ISI upped their target price on Charter Communications from $360.00 to $438.00 and gave the stock an “outperform” rating in a research report on Friday, September 15th. Finally, Telsey Advisory Group raised Charter Communications from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $340.00 to $450.00 in a research report on Wednesday, August 9th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $379.19.
The stock has a 50-day moving average of $389.33 and a 200-day moving average of $348.25. The company has a market capitalization of $92.92 billion, a PE ratio of 103.21 and a beta of 1.10.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.29). The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.38 billion. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. Charter Communications’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 earnings per share. Equities research analysts anticipate that Charter Communications, Inc. will post $0.60 EPS for the current fiscal year.
In other news, EVP Jonathan Hargis sold 10,976 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $399.00, for a total transaction of $4,379,424.00. Following the completion of the transaction, the executive vice president now owns 18,025 shares of the company’s stock, valued at approximately $7,191,975. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Intl Fcstone Inc. acquired a new position in shares of Charter Communications during the 2nd quarter worth $807,000. Toronto Dominion Bank raised its holdings in shares of Charter Communications by 25.8% during the 2nd quarter. Toronto Dominion Bank now owns 73,693 shares of the company’s stock worth $24,818,000 after buying an additional 15,118 shares in the last quarter. Blockhouse Capital Management LP acquired a new position in shares of Charter Communications during the 2nd quarter worth $7,714,000. Archford Capital Strategies LLC raised its holdings in shares of Charter Communications by 48,155.6% during the 2nd quarter. Archford Capital Strategies LLC now owns 4,343 shares of the company’s stock worth $1,347,000 after buying an additional 4,334 shares in the last quarter. Finally, Colony Group LLC raised its holdings in shares of Charter Communications by 6.8% during the 2nd quarter. Colony Group LLC now owns 813 shares of the company’s stock worth $274,000 after buying an additional 52 shares in the last quarter. 74.09% of the stock is owned by institutional investors.
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Charter Communications Company Profile
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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