Vanguard Group Inc. Raises Stock Position in Charter Communications, Inc. $CHTR

Vanguard Group Inc. boosted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 13.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,362,352 shares of the company’s stock after acquiring an additional 1,130,648 shares during the period. Vanguard Group Inc. owned about 6.85% of Charter Communications worth $2,575,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in 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 buying an additional 198,979 shares in the last quarter. Norges Bank purchased a new position in shares of Charter Communications in the second quarter valued at approximately $1,145,387,000. Geode Capital Management LLC boosted its stake in shares of Charter Communications by 1.6% in the second quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock worth $1,056,800,000 after acquiring an additional 41,206 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Charter Communications by 1.9% during the third 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. Finally, Invesco Ltd. raised its stake in Charter Communications by 0.7% in the 2nd quarter. Invesco Ltd. now owns 1,848,370 shares of the company’s stock valued at $755,632,000 after purchasing an additional 13,563 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Trading Up 0.9%

Shares of Charter Communications stock opened at $239.14 on Thursday. Charter Communications, Inc. has a fifty-two week low of $180.38 and a fifty-two week high of $437.06. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 0.37 and a beta of 1.05. The stock has a 50 day moving average of $210.14 and a 200 day moving average of $233.11.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, January 30th. The company reported $10.34 earnings per share for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). The business 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%.The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.10 earnings per share. As a group, research analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CHTR. Barclays lowered their target price on shares of Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday, November 3rd. Benchmark boosted their price target on shares of Charter Communications from $425.00 to $455.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Zacks Research upgraded shares of Charter Communications from a “strong sell” rating to a “hold” rating in a report on Monday. Citigroup lowered their target price on Charter Communications from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Finally, BNP Paribas Exane set a $160.00 price target on Charter Communications in a research report on Tuesday, January 27th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six 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 $335.67.

Charter Communications 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.