Charter Communications, Inc. $CHTR Stake Trimmed by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,006,805 shares of the company’s stock after selling 97,099 shares during the period. Franklin Resources Inc.’s holdings in Charter Communications were worth $827,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHTR. Vanguard Group Inc. raised its holdings in shares of Charter Communications by 13.7% during the third quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock valued at $2,575,630,000 after acquiring an additional 1,130,648 shares during the period. State Street Corp lifted its position in shares of Charter Communications by 3.2% in the 2nd quarter. State Street Corp now owns 6,486,312 shares of the company’s stock valued at $2,651,669,000 after acquiring an additional 198,979 shares in the last quarter. Norges Bank acquired a new position in Charter Communications in the 2nd quarter worth approximately $1,145,387,000. Geode Capital Management LLC grew its position in Charter Communications by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock worth $1,056,800,000 after purchasing an additional 41,206 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Charter Communications by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,288,208 shares of the company’s stock worth $629,498,000 after purchasing an additional 42,499 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Trading Down 1.6%

Shares of NASDAQ:CHTR opened at $219.33 on Wednesday. The firm has a fifty day moving average of $216.03 and a two-hundred day moving average of $229.37. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 4.65. Charter Communications, Inc. has a 12-month low of $180.38 and a 12-month high of $437.06. The firm has a market capitalization of $27.77 billion, a P/E ratio of 6.05, a price-to-earnings-growth ratio of 0.35 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.40 by ($0.06). The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.Charter Communications’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.10 earnings per share. On average, equities analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. TD Cowen increased their target price on Charter Communications from $428.00 to $437.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada lowered their price target on Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. The Goldman Sachs Group dropped their price target on Charter Communications from $210.00 to $185.00 and set a “sell” rating on the stock in a research report on Monday, February 2nd. UBS Group set a $425.00 price objective on Charter Communications in a research note on Thursday, January 29th. Finally, Williams Trading set a $437.00 price objective on Charter Communications in a research report on Monday, February 2nd. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $335.11.

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.