An issue of Charter Communications, Inc. (NASDAQ:CHTR) bonds fell 1.7% against their face value during trading on Tuesday. The high-yield debt issue has a 5.375% coupon and will mature on May 1, 2047. The debt is now trading at $95.77 and was trading at $98.67 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
A number of brokerages recently weighed in on CHTR. Wells Fargo & Co upgraded shares of Charter Communications from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $387.50 to $460.00 in a research report on Monday, February 5th. Pivotal Research restated a “buy” rating and set a $500.00 price objective (up previously from $420.00) on shares of Charter Communications in a research report on Monday, February 5th. Barclays increased their price objective on shares of Charter Communications from $283.00 to $300.00 and gave the company an “underweight” rating in a research report on Monday, February 5th. Zacks Investment Research downgraded shares of Charter Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, SunTrust Banks increased their price objective on shares of Charter Communications to $440.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $407.17.
Charter Communications, Inc. (NASDAQ:CHTR) opened at $340.96 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.23 and a quick ratio of 0.23. Charter Communications, Inc. has a 52-week low of $308.30 and a 52-week high of $408.83. The firm has a market cap of $83,479.48, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 3.86 and a beta of 1.20.
Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, February 2nd. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.01. Charter Communications had a net margin of 23.80% and a return on equity of 1.11%. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm earned $1.67 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. sell-side analysts predict that Charter Communications, Inc. will post 4.32 EPS for the current fiscal year.
In other news, EVP Jonathan Hargis sold 27,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $364.76, for a total transaction of $9,848,520.00. Following the sale, the executive vice president now directly owns 34,931 shares in the company, valued at approximately $12,741,431.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Price Capital Management Inc. bought a new stake in shares of Charter Communications during the 4th quarter valued at $101,000. Kings Point Capital Management raised its position in shares of Charter Communications by 68.4% during the 4th quarter. Kings Point Capital Management now owns 347 shares of the company’s stock valued at $117,000 after purchasing an additional 141 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Charter Communications by 109.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 409 shares of the company’s stock valued at $137,000 after purchasing an additional 214 shares during the period. CLS Investments LLC raised its position in shares of Charter Communications by 4,733.3% during the 3rd quarter. CLS Investments LLC now owns 435 shares of the company’s stock valued at $158,000 after purchasing an additional 426 shares during the period. Finally, Icon Wealth Partners LLC bought a new stake in shares of Charter Communications during the 4th quarter valued at $151,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
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Charter Communications Company Profile
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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