Charter Communications (CHTR) Shares Gap Up on Earnings Beat

Shares of 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 $362.36, but opened at $371.18. Charter Communications shares last traded at $387.50, with a volume of 4366818 shares traded.

The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.85 by $0.01. Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the company earned $1.67 earnings per share. Charter Communications’s quarterly revenue was up 3.2% compared to the same quarter last year.

Several analysts have commented on CHTR shares. Barclays dropped their price objective on Charter Communications from $354.00 to $283.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Zacks Investment Research lowered Charter Communications from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 26th. Guggenheim raised Charter Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. BidaskClub raised Charter Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, Moffett Nathanson raised Charter Communications from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $382.53.

Several large investors have recently modified their holdings of the company. Raymond James Trust N.A. boosted its stake in shares of Charter Communications by 69.2% in the fourth quarter. Raymond James Trust N.A. now owns 1,232 shares of the company’s stock worth $414,000 after acquiring an additional 504 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Charter Communications by 2.5% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 39,784 shares of the company’s stock worth $13,366,000 after acquiring an additional 957 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Charter Communications by 4.3% in the fourth quarter. Gabelli Funds LLC now owns 135,159 shares of the company’s stock worth $45,408,000 after acquiring an additional 5,599 shares during the last quarter. US Bancorp DE boosted its stake in shares of Charter Communications by 9.9% in the fourth quarter. US Bancorp DE now owns 11,117 shares of the company’s stock worth $3,735,000 after acquiring an additional 1,006 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Charter Communications by 0.3% in the fourth quarter. Aperio Group LLC now owns 87,178 shares of the company’s stock worth $29,288,000 after acquiring an additional 298 shares during the last quarter. 72.13% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $96,336.38, a P/E ratio of 10.81, a PEG ratio of 2.53 and a beta of 1.14.

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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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