Charter Communications (NASDAQ:CHTR) Stock Price Up 7% - Here's What Happened

Key Points

• Charter Communications shares rose 7% to about $156.38 in mid-day trading, despite volume running 70% below the average daily level.
• The company beat quarterly expectations, reporting $10.66 in earnings per share versus the $9.98 consensus and revenue of $13.53 billion, although revenue declined 1.7% year over year.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, nine a Hold and five a Sell, resulting in a consensus Hold rating and a $226.88 target price; institutions and hedge funds own 81.76% of shares.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) was up 7% on Wednesday . The company traded as high as $155.71 and last traded at $156.3750. 819,417 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,742,145 shares. The stock had previously closed at $146.19.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CHTR shares. Benchmark reissued a "buy" rating on shares of Charter Communications in a research report on Wednesday, July 22nd. The Goldman Sachs Group cut their price target on Charter Communications from $185.00 to $125.00 and set a "sell" rating for the company in a research note on Thursday, July 2nd. Zacks Research upgraded Charter Communications from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Royal Bank Of Canada lowered their price target on Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a research note on Monday, July 27th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, Charter Communications currently has a consensus rating of "Hold" and a consensus target price of $226.88.

Charter Communications Stock Up 7.6%

The company has a market cap of $18.77 billion, a price-to-earnings ratio of 4.09, a PEG ratio of 0.32 and a beta of 0.69. The business has a 50-day simple moving average of $141.99 and a two-hundred day simple moving average of $173.08. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts' consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The firm's revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $9.18 EPS. As a group, equities analysts forecast that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

Institutional Trading of Charter Communications

A number of institutional investors and hedge funds have recently modified their holdings of CHTR. Cassaday & Co Wealth Management LLC bought a new position in Charter Communications in the 1st quarter worth $25,000. Quarry LP boosted its holdings in Charter Communications by 153.2% during the fourth quarter. Quarry LP now owns 119 shares of the company's stock valued at $25,000 after acquiring an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Charter Communications in the fourth quarter valued at about $25,000. DV Equities LLC acquired a new stake in shares of Charter Communications in the fourth quarter valued at about $25,000. Finally, Trust Co. of Vermont bought a new position in shares of Charter Communications in the second quarter worth about $28,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter's service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company's consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.

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