Charter Communications (NASDAQ:CHTR) Shares Gap Down - Here's What Happened

Charter Communications, Inc. (NASDAQ:CHTR) saw its stock price gap down significantly when the market opened on Thursday. The stock closed the previous day at $359.33 but opened at a much lower price of $336.20. As trading continued, Charter Communications shares were last noted at $340.98, with a trading volume of 472,759 shares.

Analyst Ratings Changes

There have been various recent updates concerning analyst ratings for Charter Communications. On November 4th, Pivotal Research increased their price target for the company from $435.00 to $525.00 while maintaining a 'buy' rating. Conversely, Royal Bank of Canada lowered their price target from $390.00 to $380.00 and assigned a 'sector perform' rating on January 15th. Wells Fargo & Company increased their price target from $350.00 to $400.00, issuing an 'equal weight' rating on the same date as Pivotal Research. KeyCorp also raised their rating from a 'sector weight' to an 'overweight' rating, establishing a new target price of $500.00 on December 12th. Morgan Stanley updated its price target from $360.00 to $415.00, maintaining an 'equal weight' rating. Overall, four analysts have given the stock a sell rating, ten have assigned a hold rating, and six offered a buy rating, according to MarketBeat. Presently, the consensus rating for Charter Communications is 'Hold' with an average target price set at $383.89.

Charter Communications Trading Down 8.5%

In terms of financial metrics, Charter Communications currently holds a market capitalization of $46.75 billion, a P/E ratio of 10.28, and a price-to-earnings-growth ratio of 0.46 with a beta of 1.10. The company's 50-day moving average is $365.08, and the 200-day moving average is $352.75. The financial sets a quick ratio and current ratio both at 0.34, with a debt-to-equity ratio standing at 5.24.

The most recent earnings report for Charter Communications was released on November 1st, where they announced an earnings per share (EPS) of $8.82 for the quarter, surpassing analysts' expectations of $8.55 by $0.27. The company revealed a net margin of 8.52% and a return on equity of 28.73%. Additionally, Charter reported revenue of $13.80 billion for the quarter, which exceeded forecasts of $13.66 billion. This revenue figure reflects a 1.6% annual growth compared to the same quarter of the previous year. Analysts predict that Charter Communications, Inc. will achieve an EPS of 34.62 for the current fiscal year.

Institutional Trading of Charter Communications

Recent changes have been observed in institutional investments in Charter Communications stock. In the third quarter, Franklin Resources Inc. increased their holdings by 4.9%, owning 3,179,454 shares now valued at $1,052,868,000 after acquiring an additional 148,003 shares. Geode Capital Management LLC raised their stake by 0.6%, now holding 2,432,231 shares worth $785,744,000 after purchasing 13,430 additional shares last quarter. FMR LLC saw a substantial increase in holdings, raising their position by 27.7%, now owning 1,064,948 shares valued at $345,128,000 after adding 230,817 shares. Charles Schwab Investment Management Inc. grew its stake by 0.9%, with holdings of 824,696 shares valued at $267,267,000 after a purchase of 7,008 shares. Additionally, Cryder Capital Partners LLP raised their position by 8.0%, now owning 533,036 shares worth $172,746,000. Notably, 81.76% of Charter Communications stock is held by institutional investors and hedge funds.

About Charter Communications

Charter Communications, Inc. operates as a provider of broadband connectivity and cable services, catering to both residential and commercial customers across the United States. The company provides subscription-based internet, video, mobile, and voice services, including a variety of broadband connectivity options such as fixed internet, WiFi, and mobile services. Additional features include Advanced WiFi services, Spectrum Security Shield, in-home WiFi options, and out-of-home WiFi services.

Considerations for Investors

Before making any investment decisions regarding Charter Communications, potential investors should conduct thorough research and consider various factors. Currently, MarketBeat's analysis indicates that top-rated analysts are recommending five alternative stocks, which they believe are more favorable investment opportunities than Charter Communications right now.

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