Charter Communications (NASDAQ:CHTR) Shares Gap Up – Time to Buy?

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CHTR shares. Rosenblatt Securities raised their target price on Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Morgan Stanley boosted their target price on Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Pivotal Research increased their price target on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their price objective on shares of Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, TD Cowen boosted their target price on shares of Charter Communications from $488.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Four research 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’s stock. According to data from MarketBeat, Charter Communications currently has a consensus rating of “Hold” and a consensus target price of $379.06.

Charter Communications Price Performance

The company has a market capitalization of $58.76 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.62 and a beta of 1.03. 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 50 day moving average price of $338.58 and a 200 day moving average price of $318.75.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, beating the consensus estimate of $8.55 by $0.27. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The business had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.66 billion. During the same period in the prior year, the business posted $8.25 earnings per share. Charter Communications’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Charter Communications, Inc. will post 32.87 earnings per share for the current year.

Hedge Funds Weigh In On Charter Communications

Several hedge funds have recently added to or reduced their stakes in CHTR. Bessemer Group Inc. increased its stake in Charter Communications by 50.8% during the 1st quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock worth $2,658,000 after purchasing an additional 3,080 shares in the last quarter. Cornerstone Capital Inc. grew its holdings in shares of Charter Communications by 40.7% in the 3rd quarter. Cornerstone Capital Inc. now owns 37,860 shares of the company’s stock valued at $12,270,000 after acquiring an additional 10,950 shares in the last quarter. National Pension Service raised its holdings in Charter Communications by 8.1% during the third quarter. National Pension Service now owns 172,013 shares of the company’s stock worth $55,746,000 after acquiring an additional 12,915 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Charter Communications during the second quarter valued at approximately $7,171,000. Finally, Cetera Investment Advisers grew its stake in Charter Communications by 432.3% in the first quarter. Cetera Investment Advisers now owns 7,399 shares of the company’s stock valued at $2,150,000 after purchasing an additional 6,009 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

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.