Charter Communications (NASDAQ:CHTR) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Charter Communications, Inc. (NASDAQ:CHTR)’s stock 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 changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Pivotal Research lifted their price target on Charter Communications from $435.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charter Communications from $340.00 to $365.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Benchmark raised their price target on shares of Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. BNP Paribas raised Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 target price for the company in a report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price target on Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Charter Communications has an average rating of “Hold” and a consensus price target of $384.42.

Charter Communications Stock Up 2.0 %

The company has a fifty day simple moving average of $373.37 and a 200-day simple moving average of $344.61. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.24. The firm has a market cap of $50.65 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 0.60 and a beta of 1.08.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, November 1st. The company reported $8.82 EPS for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. The company had revenue of $13.80 billion for the quarter, compared to analysts’ expectations of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $8.25 EPS. On average, equities analysts anticipate that Charter Communications, Inc. will post 32.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CHTR. Franklin Resources Inc. lifted its position in shares of Charter Communications by 4.9% in the third quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock valued at $1,052,868,000 after acquiring an additional 148,003 shares in the last quarter. Geode Capital Management LLC raised its stake in Charter Communications by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,432,231 shares of the company’s stock valued at $785,744,000 after purchasing an additional 13,430 shares during the period. FMR LLC lifted its holdings in Charter Communications by 27.7% in the 3rd quarter. FMR LLC now owns 1,064,948 shares of the company’s stock worth $345,128,000 after purchasing an additional 230,817 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Charter Communications by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 824,696 shares of the company’s stock worth $267,267,000 after purchasing an additional 7,008 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Charter Communications by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 712,550 shares of the company’s stock valued at $212,998,000 after buying an additional 69,959 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

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.