Charter Communications (NASDAQ:CHTR) Announces Quarterly Earnings Results

Charter Communications (NASDAQ:CHTR) issued its quarterly earnings data on Friday. The company reported $8.49 EPS for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51, RTT News reports. Charter Communications had a net margin of 8.50% and a return on equity of 31.42%. The business had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter last year, the company earned $8.05 EPS. The business’s revenue was up .2% on a year-over-year basis.

Charter Communications Stock Up 16.6 %

Shares of NASDAQ CHTR opened at $367.62 on Monday. The stock has a market cap of $52.95 billion, a PE ratio of 11.89, a P/E/G ratio of 1.64 and a beta of 1.04. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 6.28. Charter Communications has a 12-month low of $236.08 and a 12-month high of $458.30. The company has a 50-day moving average of $292.90 and a 200 day moving average of $295.14.

Analysts Set New Price Targets

CHTR has been the topic of a number of recent analyst reports. Pivotal Research lowered their price target on shares of Charter Communications from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Morgan Stanley raised their target price on Charter Communications from $300.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. reduced their price target on Charter Communications from $370.00 to $335.00 and set a “neutral” rating for the company in a report on Monday, April 1st. Wells Fargo & Company dropped their price objective on Charter Communications from $290.00 to $260.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Finally, Barclays cut their price objective on Charter Communications from $280.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, April 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $331.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HB Wealth Management LLC lifted its position in Charter Communications by 55.8% during the second quarter. HB Wealth Management LLC now owns 1,387 shares of the company’s stock worth $415,000 after buying an additional 497 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Charter Communications by 10.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,445 shares of the company’s stock worth $1,628,000 after acquiring an additional 501 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Charter Communications during the 2nd quarter worth $7,171,000. Institute for Wealth Management LLC. grew its holdings in shares of Charter Communications by 38.1% in the second quarter. Institute for Wealth Management LLC. now owns 1,590 shares of the company’s stock valued at $475,000 after purchasing an additional 439 shares during the period. Finally, LRI Investments LLC grew its holdings in shares of Charter Communications by 4,300.0% in the second quarter. LRI Investments LLC now owns 220 shares of the company’s stock valued at $66,000 after purchasing an additional 215 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

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.