Charter Communications (NASDAQ:CHTR) Sets New 12-Month Low Following Weak Earnings

Charter Communications, Inc. (NASDAQ:CHTR)’s share price hit a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $236.08 and last traded at $251.78, with a volume of 639169 shares trading hands. The stock had previously closed at $259.10.

The company reported $7.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.78 by ($0.23). The firm had revenue of $13.68 billion during the quarter, compared to analyst estimates of $13.75 billion. Charter Communications had a net margin of 8.35% and a return on equity of 32.32%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $6.65 earnings per share.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CHTR. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Charter Communications from $375.00 to $320.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Bank of America reduced their target price on shares of Charter Communications from $350.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Rosenblatt Securities lowered their price target on shares of Charter Communications from $334.00 to $297.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Pivotal Research decreased their target price on shares of Charter Communications from $500.00 to $450.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. reduced their price target on Charter Communications from $370.00 to $335.00 and set a “neutral” rating on the stock in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $380.80.

Institutional Investors Weigh In On Charter Communications

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CX Institutional increased its holdings in Charter Communications by 2.3% in the third quarter. CX Institutional now owns 1,185 shares of the company’s stock worth $521,000 after purchasing an additional 27 shares in the last quarter. Catalyst Capital Advisors LLC increased its position in shares of Charter Communications by 32.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 111 shares of the company’s stock valued at $49,000 after purchasing an additional 27 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Charter Communications by 9.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 313 shares of the company’s stock worth $138,000 after purchasing an additional 28 shares during the last quarter. PDS Planning Inc increased its position in Charter Communications by 3.4% in the third quarter. PDS Planning Inc now owns 870 shares of the company’s stock worth $383,000 after buying an additional 29 shares during the last quarter. Finally, Aspiriant LLC raised its stake in Charter Communications by 2.3% in the 4th quarter. Aspiriant LLC now owns 1,533 shares of the company’s stock valued at $596,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Stock Down 1.7 %

The company has a market capitalization of $36.98 billion, a PE ratio of 8.48, a PEG ratio of 0.46 and a beta of 0.96. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50 day moving average is $281.16 and its 200 day moving average is $348.14.

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.