Charter Communications (NASDAQ:CHTR) Shares Gap Down – Here’s What Happened

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $359.33, but opened at $336.20. Charter Communications shares last traded at $340.98, with a volume of 472,759 shares traded.

Analyst Ratings Changes

CHTR has been the subject of several research reports. Pivotal Research boosted their target price on Charter Communications from $435.00 to $525.00 and gave the company a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of Charter Communications from $390.00 to $380.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company increased their target price on shares of Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. KeyCorp raised Charter Communications from a “sector weight” rating to an “overweight” rating and set a $500.00 target price on the stock in a report on Thursday, December 12th. 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 note on Monday, November 4th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $383.89.

Charter Communications Trading Down 8.5 %

The firm has a market cap of $46.75 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.46 and a beta of 1.10. The business’s 50 day moving average is $365.08 and its 200-day moving average is $352.75. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.24.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.55 by $0.27. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The business had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.66 billion. During the same quarter in the prior year, the business posted $8.25 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts forecast that Charter Communications, Inc. will post 34.62 earnings per share for the current fiscal year.

Institutional Trading of Charter Communications

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its position in Charter Communications by 4.9% in the third quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock worth $1,052,868,000 after purchasing an additional 148,003 shares during the period. Geode Capital Management LLC raised its position in Charter Communications by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,432,231 shares of the company’s stock worth $785,744,000 after acquiring an additional 13,430 shares in the last quarter. 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 valued at $345,128,000 after acquiring an additional 230,817 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 7,008 shares during the last quarter. Finally, Cryder Capital Partners LLP raised its position in shares of Charter Communications by 8.0% during the third quarter. Cryder Capital Partners LLP now owns 533,036 shares of the company’s stock worth $172,746,000 after purchasing an additional 39,334 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

About Charter Communications

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.