Charter Communications (NASDAQ:CHTR) Stock Crosses Above 50 Day Moving Average – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR)’s share price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $121.54 and traded as high as $127.16. Charter Communications shares last traded at $125.86, with a volume of 4,490,033 shares.

More Charter Communications News

Here are the key news stories impacting Charter Communications this week:

• Positive Sentiment: Charter reported Q3 revenue of $14.92 billion, above estimates, and adjusted EPS of $21.70, also ahead of consensus. Revenue growth was aided by the Cox acquisition. Charter Communications tops Q3 earnings and revenue estimates
• Positive Sentiment: The company launched a new operating model aimed at returning to growth, improving its internet offerings, and using mobile and video services to attract customers. Management’s plan includes about $2 billion in cost cuts, which could help profitability if executed. Charter announces Q3 results and launches new operating model
• Negative Sentiment: Broadband customer losses worsened in Q3, overshadowing the earnings and revenue beats. Investors are concerned that competition is making it harder for Charter to stabilize its core internet business. Charter’s cost-cutting plan is overshadowed by subscriber losses
• Negative Sentiment: A $6.33 billion franchise impairment drove a reported GAAP loss of $20.50 per share, creating a sharp contrast with the adjusted earnings beat. The impairment and declining cash flow added to concerns about the quarter’s underlying performance. Charter Q3 earnings beat on debt gain amid franchise impairment

Analyst Ratings Changes

CHTR has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Morgan Stanley dropped their price objective on Charter Communications from $150.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, September 25th. UBS Group dropped their price objective on Charter Communications from $235.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. BNP Paribas Exane cut their target price on Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company decreased their target price on Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $200.18.

Charter Communications Stock Down 6.2%

The company has a market capitalization of $14.08 billion, a PE ratio of 2.28, a PEG ratio of 0.24 and a beta of 0.73. The company’s 50 day moving average is $120.93 and its two-hundred day moving average is $163.33. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, November 6th. The company reported ($20.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.90 by ($29.40). Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company had revenue of $14.92 billion during the quarter, compared to the consensus estimate of $13.50 billion. During the same quarter in the prior year, the firm posted $8.34 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Charter Communications, Inc. will post 41.43 earnings per share for the current year.

Institutional Investors Weigh In On Charter Communications

A number of hedge funds have recently made changes to their positions in CHTR. TD Waterhouse Canada Inc. raised its holdings in shares of Charter Communications by 3,624.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 60,224 shares of the company’s stock worth $6,679,000 after acquiring an additional 58,607 shares in the last quarter. Krilogy Financial LLC increased its position in Charter Communications by 278.6% in the third quarter. Krilogy Financial LLC now owns 21,293 shares of the company’s stock worth $2,361,000 after purchasing an additional 15,669 shares during the last quarter. Polianta Ltd bought a new stake in Charter Communications in the second quarter worth $1,777,000. Quantinno Capital Management LP increased its position in Charter Communications by 54.3% in the first quarter. Quantinno Capital Management LP now owns 45,828 shares of the company’s stock worth $9,893,000 after purchasing an additional 16,118 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Charter Communications during the second quarter valued at $3,637,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Company Profile

Charter Communications, Inc provides broadband, video, voice and mobile services in the United States, primarily under its Spectrum brand. Its residential offerings include high-speed internet, television and home phone services, while its business services include connectivity, communications and managed solutions for organizations.

The company also offers Spectrum Mobile, a wireless service that complements its broadband business. Charter serves customers across a broad U.S. footprint, including communities where it provides services over its cable network.

Founded in 1993, Charter expanded significantly through its 2016 acquisitions of Time Warner Cable and Bright House Networks, bringing those operations under the Spectrum brand.