Charter Communications (NASDAQ:CHTR) Shares Gap Down – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTRGet Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $359.33, but opened at $336.20. Charter Communications shares last traded at $340.98, with a volume of 472,759 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently commented on CHTR shares. Deutsche Bank Aktiengesellschaft increased their price objective on Charter Communications from $340.00 to $365.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Pivotal Research increased their price objective on shares of Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their target price on Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Bank of America upgraded Charter Communications from a “neutral” rating to a “buy” rating and upped their price target for the company from $385.00 to $450.00 in a research report on Monday, November 4th. Finally, KeyCorp upgraded shares of Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 target price for the company in a research report on Thursday, December 12th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Charter Communications currently has a consensus rating of “Hold” and an average price target of $383.89.

Check Out Our Latest Research Report on CHTR

Charter Communications Stock Performance

The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24. The company has a market cap of $46.75 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.46 and a beta of 1.10. The company has a 50 day moving average price of $365.08 and a 200-day moving average price of $352.75.

Charter Communications (NASDAQ:CHTRGet Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported $8.82 EPS for the quarter, beating analysts’ consensus estimates of $8.55 by $0.27. The business had revenue of $13.80 billion for the quarter, compared to analysts’ expectations of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.25 earnings per share. On average, equities analysts expect that Charter Communications, Inc. will post 34.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Several large investors have recently made changes to their positions in the business. Reston Wealth Management LLC bought a new stake in shares of Charter Communications during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Charter Communications during the third quarter valued at about $28,000. Avior Wealth Management LLC lifted its holdings in shares of Charter Communications by 104.7% in the fourth quarter. Avior Wealth Management LLC now owns 88 shares of the company’s stock worth $30,000 after buying an additional 45 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Charter Communications by 39.1% in the third quarter. Grove Bank & Trust now owns 121 shares of the company’s stock valued at $39,000 after acquiring an additional 34 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new position in Charter Communications in the fourth quarter worth $45,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Company Profile

(Get Free Report)

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.

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