Charter Communications (NASDAQ:CHTR) Shares Gap Up – What’s Next?

Charter Communications, Inc. (NASDAQ:CHTR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $392.00, but opened at $409.52. Charter Communications shares last traded at $404.39, with a volume of 348,010 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. TD Cowen boosted their price objective on shares of Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charter Communications from $340.00 to $365.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wolfe Research downgraded shares of Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price objective on the stock. in a report on Monday, September 30th. Finally, Citigroup upgraded shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 price objective on the stock in a report on Wednesday, September 11th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $379.06.

Charter Communications Stock Performance

The stock has a market capitalization of $56.06 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 0.62 and a beta of 1.03. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. The stock’s 50-day simple moving average is $340.07 and its 200 day simple moving average is $319.36.

Charter Communications (NASDAQ:CHTR) last released 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 firm had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $8.25 earnings per share. Analysts expect that Charter Communications, Inc. will post 32.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Large investors have recently modified their holdings of the stock. Reston Wealth Management LLC acquired a new position in shares of Charter Communications during the third quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Charter Communications during the third quarter worth approximately $28,000. CVA Family Office LLC lifted its position in shares of Charter Communications by 5,500.0% during the second quarter. CVA Family Office LLC now owns 112 shares of the company’s stock worth $33,000 after purchasing an additional 110 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Charter Communications during the first quarter worth approximately $34,000. Finally, Grove Bank & Trust lifted its position in shares of Charter Communications by 39.1% during the third quarter. Grove Bank & Trust now owns 121 shares of the company’s stock worth $39,000 after purchasing an additional 34 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Company Profile

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.