Charter Communications (CHTR) Debt Trading 1.1% Lower

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An issue of Charter Communications Inc (NASDAQ:CHTR) bonds fell 1.1% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 5.125% coupon and is set to mature on May 1, 2027. The bonds in the issue are now trading at $94.75 and were trading at $95.86 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

CHTR has been the subject of a number of research reports. Pivotal Research increased their price target on Charter Communications from $375.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Macquarie reaffirmed a “buy” rating and set a $355.00 price target on shares of Charter Communications in a research note on Wednesday, August 1st. ValuEngine raised Charter Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Goldman Sachs Group raised Charter Communications from a “neutral” rating to a “buy” rating in a research note on Thursday, June 28th. Finally, Jefferies Financial Group initiated coverage on Charter Communications in a research note on Thursday, June 7th. They set a “hold” rating and a $300.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $367.00.

Shares of CHTR traded down $0.09 during trading hours on Thursday, hitting $309.06. 1,312,200 shares of the company were exchanged, compared to its average volume of 1,615,438. The firm has a market cap of $70.57 billion, a PE ratio of 116.40, a P/E/G ratio of 3.32 and a beta of 1.25. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.46. Charter Communications Inc has a one year low of $250.10 and a one year high of $404.72.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Tuesday, July 31st. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.20. The business had revenue of $10.85 billion during the quarter, compared to analyst estimates of $10.83 billion. Charter Communications had a return on equity of 1.45% and a net margin of 23.59%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. equities research analysts anticipate that Charter Communications Inc will post 4.43 EPS for the current fiscal year.

In other news, EVP Richard R. Dykhouse sold 2,101 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $296.52, for a total transaction of $622,988.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.83% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Assetmark Inc. boosted its position in shares of Charter Communications by 166.7% in the first quarter. Assetmark Inc. now owns 360 shares of the company’s stock worth $112,000 after buying an additional 225 shares during the period. Silvant Capital Management LLC acquired a new stake in shares of Charter Communications in the first quarter worth $117,000. Kaizen Advisory LLC boosted its position in shares of Charter Communications by 122.7% in the second quarter. Kaizen Advisory LLC now owns 432 shares of the company’s stock worth $127,000 after buying an additional 238 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Charter Communications in the second quarter worth $129,000. Finally, Synovus Financial Corp acquired a new stake in shares of Charter Communications in the first quarter worth $140,000. 71.12% of the stock is owned by institutional investors and hedge funds.

About Charter Communications (NASDAQ:CHTR)

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.

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