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

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $336.62, but opened at $360.75. Charter Communications shares last traded at $355.14, with a volume of 411,206 shares traded.

The company reported $10.10 earnings per share for the quarter, topping analysts’ consensus estimates of $9.14 by $0.96. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. During the same period in the prior year, the company posted $7.07 EPS.

Analysts Set New Price Targets

CHTR has been the topic of several analyst reports. Bank of America upgraded Charter Communications from a “neutral” rating to a “buy” rating and upped their price target for the company from $385.00 to $450.00 in a research report on Monday, November 4th. Royal Bank of Canada dropped their price target on Charter Communications from $390.00 to $380.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. KeyCorp upgraded Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 price objective for the company in a report on Thursday, December 12th. Benchmark reiterated a “buy” rating and issued a $450.00 price objective on shares of Charter Communications in a report on Friday. Finally, Wells Fargo & Company raised their target price on Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $383.89.

Institutional Investors Weigh In On Charter Communications

Several hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of Charter Communications by 4.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock worth $1,052,868,000 after buying an additional 148,003 shares during the period. Geode Capital Management LLC increased its position in Charter Communications by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,432,231 shares of the company’s stock valued at $785,744,000 after buying an additional 13,430 shares in the last quarter. FMR LLC increased its position in Charter Communications by 27.7% during the 3rd quarter. FMR LLC now owns 1,064,948 shares of the company’s stock valued at $345,128,000 after buying an additional 230,817 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Charter Communications by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 824,696 shares of the company’s stock valued at $267,267,000 after buying an additional 7,008 shares in the last quarter. Finally, Cryder Capital Partners LLP increased its position in Charter Communications by 8.0% during the 3rd quarter. Cryder Capital Partners LLP now owns 533,036 shares of the company’s stock valued at $172,746,000 after buying an additional 39,334 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Stock Up 2.6 %

The company has a 50-day moving average of $364.14 and a 200-day moving average of $352.64. The company has a market capitalization of $49.13 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.47 and a beta of 1.10. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24.

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.