Charter Communications (NASDAQ:CHTR) Stock Price Up 7% – Should You Buy?

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $150.00 target price on shares of Charter Communications in a research report on Monday, July 27th. BNP Paribas Exane cut their target price on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. UBS Group reduced their price target on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Finally, Citigroup decreased their price target on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $226.88.

Charter Communications Trading Up 7.6%

The company has a market cap of $18.77 billion, a price-to-earnings ratio of 4.09, a PEG ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The business’s 50 day moving average price is $141.99 and its 200-day moving average price is $173.08.

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

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently modified their holdings of CHTR. California State Teachers Retirement System grew its position in Charter Communications by 18,016.6% in the second quarter. California State Teachers Retirement System now owns 20,290,238 shares of the company’s stock valued at $2,885,475,000 after acquiring an additional 20,178,240 shares during the period. Capital Research Global Investors lifted its holdings in shares of Charter Communications by 304.9% during the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after acquiring an additional 3,626,135 shares during the period. Dodge & Cox boosted its stake in shares of Charter Communications by 23.7% in the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares in the last quarter. Norges Bank bought a new stake in shares of Charter Communications in the 4th quarter worth about $555,383,000. Finally, Voyager Global Management LP increased its position in shares of Charter Communications by 1,380.0% during the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock worth $386,188,000 after purchasing an additional 1,725,000 shares in the last quarter. 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.