Charter Communications (NASDAQ:CHTR) Shares Gap Up on Earnings Beat

Charter Communications, Inc. (NASDAQ:CHTR) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $327.61, but opened at $360.61. Charter Communications shares last traded at $374.87, with a volume of 1,323,657 shares.

The company reported $8.82 EPS for the quarter, beating the consensus estimate of $8.55 by $0.27. The company had revenue of $13.80 billion during the quarter, compared to analysts’ expectations of $13.66 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $8.25 EPS.

Analysts Set New Price Targets

Several equities analysts have issued reports on CHTR shares. JPMorgan Chase & Co. upped their price objective on shares of Charter Communications from $300.00 to $385.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Bank of America raised their price target on Charter Communications from $360.00 to $385.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Morgan Stanley boosted their price objective on Charter Communications from $330.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Royal Bank of Canada started coverage on shares of Charter Communications in a research report on Thursday, September 19th. They set a “sector perform” rating and a $345.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Charter Communications from $300.00 to $325.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Charter Communications currently has an average rating of “Hold” and an average target price of $356.41.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Savant Capital LLC grew its holdings in shares of Charter Communications by 1.7% in the 2nd quarter. Savant Capital LLC now owns 1,859 shares of the company’s stock worth $556,000 after acquiring an additional 31 shares during the period. US Bancorp DE grew its holdings in Charter Communications by 0.4% in the third quarter. US Bancorp DE now owns 7,370 shares of the company’s stock valued at $2,388,000 after purchasing an additional 31 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Charter Communications by 3.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 1,051 shares of the company’s stock valued at $314,000 after buying an additional 32 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Charter Communications by 39.1% during the 3rd quarter. Grove Bank & Trust now owns 121 shares of the company’s stock worth $39,000 after buying an additional 34 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in shares of Charter Communications by 31.3% in the 3rd quarter. CVA Family Office LLC now owns 147 shares of the company’s stock worth $48,000 after buying an additional 35 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

Charter Communications Stock Performance

The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84. The stock has a market capitalization of $52.31 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.60 and a beta of 1.05. The stock’s 50 day moving average is $333.06 and its 200 day moving average is $311.99.

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.