Charter Communications (NASDAQ:CHTR) Shares Cross Above 200-Day Moving Average – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $344.58 and traded as high as $345.00. Charter Communications shares last traded at $342.77, with a volume of 472,715 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on Charter Communications from $345.00 to $390.00 and gave the company a “sector perform” rating in a research report on Monday, November 4th. Citigroup upgraded shares of Charter Communications from a “sell” rating to a “neutral” rating and set a $350.00 target price on the stock in a report on Wednesday, September 11th. BNP Paribas upgraded shares of Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 price target for the company in a report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on shares of Charter Communications from $350.00 to $400.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Morgan Stanley raised their target price on shares of Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $384.42.

Charter Communications Stock Down 0.1 %

The firm’s 50-day moving average price is $373.02 and its 200-day moving average price is $344.58. The company has a debt-to-equity ratio of 5.24, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $48.74 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.55 by $0.27. The firm had revenue of $13.80 billion during the quarter, compared to the consensus estimate of $13.66 billion. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.25 EPS. Sell-side analysts forecast that Charter Communications, Inc. will post 32.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Eagle Investment Management LLC raised its stake in shares of Charter Communications by 172,425.2% during the second quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock valued at $104,188,000 after purchasing an additional 348,299 shares during the period. Assenagon Asset Management S.A. grew its holdings in Charter Communications by 12,597.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 249,756 shares of the company’s stock valued at $80,941,000 after purchasing an additional 247,789 shares in the last quarter. FMR LLC increased its stake in Charter Communications by 27.7% during the 3rd quarter. FMR LLC now owns 1,064,948 shares of the company’s stock worth $345,128,000 after buying an additional 230,817 shares during the period. Pzena Investment Management LLC increased its stake in Charter Communications by 6.1% during the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock worth $903,932,000 after buying an additional 175,130 shares during the period. Finally, Fernbridge Capital Management LP acquired a new position in Charter Communications in the 3rd quarter worth $48,200,000. 81.76% of the stock is 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.