Charter Communications (CHTR) Bonds Trading 1.1% Higher

An issue of Charter Communications, Inc. (NASDAQ:CHTR) bonds rose 1.1% against their face value during trading on Wednesday. The debt issue has a 5.375% coupon and is set to mature on May 1, 2047. The debt is now trading at $103.36 and was trading at $103.28 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

Several brokerages have weighed in on CHTR. SunTrust Banks reaffirmed a “buy” rating and set a $380.00 price target on shares of Charter Communications in a report on Friday, October 27th. Pivotal Research reaffirmed a “buy” rating and set a $420.00 price target (up previously from $405.00) on shares of Charter Communications in a report on Friday, October 27th. Macquarie reaffirmed a “buy” rating and set a $430.00 price target on shares of Charter Communications in a report on Tuesday, October 3rd. Citigroup lifted their price target on shares of Charter Communications from $378.00 to $456.00 and gave the company a “buy” rating in a report on Tuesday, August 22nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $400.00 price target on shares of Charter Communications in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Charter Communications has a consensus rating of “Hold” and a consensus target price of $383.21.

Charter Communications, Inc. (NASDAQ:CHTR) traded down $0.32 during trading on Friday, hitting $328.68. 1,603,600 shares of the stock traded hands, compared to its average volume of 1,702,482. The company has a market capitalization of $81,792.69, a PE ratio of 204.35, a P/E/G ratio of 6.12 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.40 and a current ratio of 0.40. Charter Communications, Inc. has a 52-week low of $282.54 and a 52-week high of $408.83.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.77). The company had revenue of $10.46 billion for the quarter, compared to the consensus estimate of $10.49 billion. Charter Communications had a net margin of 1.93% and a return on equity of 0.91%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. sell-side analysts expect that Charter Communications, Inc. will post 2.21 earnings per share for the current fiscal year.

In other Charter Communications news, CFO Christopher L. Winfrey purchased 3,100 shares of Charter Communications stock in a transaction that occurred on Monday, October 30th. The shares were bought at an average price of $323.61 per share, for a total transaction of $1,003,191.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares of the company’s stock, valued at approximately $16,153,316.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.56% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CHTR. Parallel Advisors LLC increased its position in Charter Communications by 43.3% during the second quarter. Parallel Advisors LLC now owns 308 shares of the company’s stock valued at $121,000 after acquiring an additional 93 shares during the last quarter. Huntington National Bank bought a new position in Charter Communications during the third quarter valued at $128,000. Bessemer Group Inc. increased its position in Charter Communications by 50.7% during the second quarter. Bessemer Group Inc. now owns 449 shares of the company’s stock valued at $152,000 after acquiring an additional 151 shares during the last quarter. CLS Investments LLC increased its position in Charter Communications by 4,733.3% during the third quarter. CLS Investments LLC now owns 435 shares of the company’s stock valued at $158,000 after acquiring an additional 426 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Charter Communications during the third quarter valued at $180,000. Institutional investors own 72.22% of the company’s stock.

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About Charter Communications

Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.

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