Charter Communications, Inc. (NASDAQ:CHTR – Get Free Report) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 11,730,000 shares, a drop of 7.7% from the July 15th total of 12,710,000 shares. Approximately 12.1% of the company’s stock are sold short. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 8.8 days.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on CHTR. Wells Fargo & Company boosted their target price on shares of Charter Communications from $260.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Rosenblatt Securities upped their price objective on Charter Communications from $292.00 to $329.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Raymond James lowered Charter Communications from a “market perform” rating to an “underperform” rating in a research report on Monday, July 29th. Citigroup upped their price target on Charter Communications from $255.00 to $350.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Pivotal Research raised their price objective on shares of Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $360.93.
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Institutional Investors Weigh In On Charter Communications
Charter Communications Price Performance
Shares of NASDAQ:CHTR opened at $347.32 on Wednesday. Charter Communications has a one year low of $236.08 and a one year high of $458.30. The stock has a market capitalization of $50.02 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.70 and a beta of 1.04. The company has a 50-day simple moving average of $322.24 and a 200-day simple moving average of $294.43. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.40 and a current ratio of 0.39.
Charter Communications (NASDAQ:CHTR – Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The firm had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. During the same quarter in the previous year, the firm posted $8.05 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Charter Communications will post 32.52 EPS for the current year.
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.
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