CIBC Bancorp USA Inc. Makes New Investment in Charter Communications, Inc. $CHTR

CIBC Bancorp USA Inc. purchased a new stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) during the third quarter, Holdings Channel.com reports. The firm purchased 75,541 shares of the company’s stock, valued at approximately $20,782,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Webster Bank N. A. purchased a new stake in shares of Charter Communications during the third quarter valued at $28,000. Heritage Wealth Advisors acquired a new stake in Charter Communications during the 2nd quarter worth about $29,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Charter Communications during the 3rd quarter valued at about $30,000. Geneos Wealth Management Inc. boosted its position in Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after buying an additional 55 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Charter Communications in the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Performance

NASDAQ CHTR opened at $209.00 on Thursday. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s fifty day moving average is $217.09 and its two-hundred day moving average is $227.55. The firm has a market capitalization of $26.47 billion, a P/E ratio of 5.76, a price-to-earnings-growth ratio of 0.35 and a beta of 1.02. Charter Communications, Inc. has a fifty-two week low of $180.38 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.40 by ($0.06). Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.73 billion. During the same period last year, the business earned $10.10 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CHTR. Zacks Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Royal Bank Of Canada lowered their price target on Charter Communications from $265.00 to $240.00 and set a “sector perform” rating on the stock in a research report on Friday, January 16th. Sanford C. Bernstein set a $220.00 price objective on Charter Communications in a report on Wednesday, January 28th. UBS Group set a $425.00 price objective on Charter Communications in a research report on Thursday, January 29th. Finally, Williams Trading set a $437.00 target price on Charter Communications in a research note on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $335.11.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.