Charter Communications (CHTR) Bonds Trading 1.1% Higher
An issue of Charter Communications, Inc. (NASDAQ:CHTR) debt rose 1.1% against its face value during trading on Wednesday. The high-yield issue of debt has a 5.375% coupon and will mature on May 1, 2047. The bonds in the issue are now trading at $103.60 and were trading at $102.44 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of research analysts recently commented on the company. Barclays cut Charter Communications from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $267.01 to $283.00 in a report on Monday, December 4th. Macquarie reiterated a “buy” rating and issued a $430.00 price objective on shares of Charter Communications in a report on Tuesday, October 3rd. BidaskClub raised Charter Communications from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 27th. Pivotal Research reissued a “buy” rating and issued a $420.00 target price (up previously from $405.00) on shares of Charter Communications in a research report on Friday, October 27th. Finally, Moffett Nathanson reissued a “neutral” rating on shares of Charter Communications in a research report on Monday, October 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $382.53.
Charter Communications, Inc. (NASDAQ CHTR) traded down $1.27 during trading on Friday, hitting $354.00. The stock had a trading volume of 644,642 shares, compared to its average volume of 1,880,000. Charter Communications, Inc. has a 1-year low of $292.84 and a 1-year high of $408.83. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $88,320.00, a price-to-earnings ratio of 192.39, a P/E/G ratio of 2.60 and a beta of 1.06.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.77). Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The company had revenue of $10.46 billion for the quarter, compared to analysts’ expectations of $10.49 billion. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. equities research analysts expect that Charter Communications, Inc. will post 2.21 EPS for the current year.
In related news, CFO Christopher L. Winfrey acquired 3,100 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were acquired at an average price of $323.61 per share, with a total value of $1,003,191.00. Following the completion of the transaction, the chief financial officer now owns 49,916 shares of the company’s stock, valued at $16,153,316.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Charter Communications by 2.4% during the second quarter. Vanguard Group Inc. now owns 13,814,543 shares of the company’s stock worth $4,653,428,000 after acquiring an additional 321,938 shares during the period. BlackRock Inc. increased its position in shares of Charter Communications by 4.1% during the second quarter. BlackRock Inc. now owns 12,709,709 shares of the company’s stock worth $4,281,266,000 after acquiring an additional 496,574 shares during the period. Capital World Investors increased its position in shares of Charter Communications by 4.1% during the second quarter. Capital World Investors now owns 10,215,326 shares of the company’s stock worth $3,441,033,000 after acquiring an additional 402,167 shares during the period. Meritage Group LP increased its position in shares of Charter Communications by 3.4% during the third quarter. Meritage Group LP now owns 2,819,596 shares of the company’s stock worth $1,024,698,000 after acquiring an additional 92,620 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Charter Communications by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,300,679 shares of the company’s stock worth $836,081,000 after purchasing an additional 51,758 shares in the last quarter. 72.16% of the stock is currently owned by institutional investors and hedge funds.
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About Charter Communications
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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