Charter Communications (NASDAQ:CHTR) Shares Up 7% – Still a Buy?

Shares of Charter Communications, Inc. (NASDAQ:CHTR) rose 7% during trading on Wednesday . The company traded as high as $155.71 and last traded at $156.3750. 819,417 shares changed hands during trading, a decline of 70% from the average session volume of 2,742,145 shares. The stock had previously closed at $146.19.

Analysts Set New Price Targets

CHTR has been the topic of several analyst reports. TD Cowen lowered their target price on Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Bank of America restated a “buy” rating on shares of Charter Communications in a research report on Monday, July 27th. BNP Paribas Exane decreased their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 14th. Freedom Capital raised Charter Communications to a “hold” rating in a research report on Friday, June 12th. Finally, Wells Fargo & Company cut their price objective on Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, July 27th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charter Communications currently has an average rating of “Hold” and a consensus target price of $226.88.

Charter Communications Stock Down 4.8%

The firm has a market capitalization of $18.06 billion, a PE ratio of 3.93, a PEG ratio of 0.34 and a beta of 0.69. The business’s 50 day simple moving average is $142.97 and its 200 day simple moving average is $171.91. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last posted 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. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $13.53 billion for the quarter, compared to analysts’ expectations of $13.51 billion. During the same quarter in the previous year, the business posted $9.18 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Charter Communications, Inc. will post 42.72 earnings per share for the current year.

Hedge Funds Weigh In On Charter Communications

A number of hedge funds have recently bought and sold shares of CHTR. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Charter Communications during the first quarter worth $25,000. Quarry LP boosted its holdings in Charter Communications by 153.2% in the fourth quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new position in Charter Communications during the 4th quarter worth $25,000. DV Equities LLC purchased a new stake in Charter Communications during the 4th quarter worth about $25,000. Finally, Trust Co. of Vermont purchased a new stake in Charter Communications during the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

About Charter Communications

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.