Charter Communications (NASDAQ:CHTR) Downgraded by Oppenheimer to “Market Perform”

Oppenheimer cut shares of Charter Communications (NASDAQ:CHTR) from an outperform rating to a market perform rating in a report issued on Tuesday morning, Marketbeat reports.

Several other research firms also recently issued reports on CHTR. KeyCorp reaffirmed a “sector weight” rating on shares of Charter Communications in a research note on Monday. UBS Group decreased their price target on Charter Communications from $425.00 to $355.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Deutsche Bank Aktiengesellschaft cut their price objective on Charter Communications from $370.00 to $325.00 and set a “hold” rating on the stock in a research note on Monday, October 6th. Barclays cut their price objective on Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, Benchmark cut their price objective on Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $329.56.

Charter Communications Stock Performance

Charter Communications stock opened at $220.91 on Tuesday. The business has a 50 day moving average of $259.92 and a 200-day moving average of $326.85. Charter Communications has a 1 year low of $214.83 and a 1 year high of $437.06. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $30.17 billion, a P/E ratio of 6.05, a P/E/G ratio of 0.55 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.32). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same period in the prior year, the company earned $8.82 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Charter Communications will post 38.16 earnings per share for the current year.

Hedge Funds Weigh In On Charter Communications

Several institutional investors have recently added to or reduced their stakes in CHTR. Y Intercept Hong Kong Ltd raised its position in Charter Communications by 113.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 8,031 shares of the company’s stock valued at $3,283,000 after buying an additional 4,273 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Charter Communications by 25.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,691 shares of the company’s stock valued at $6,028,000 after buying an additional 2,990 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Charter Communications by 8.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 32,745 shares of the company’s stock valued at $13,386,000 after buying an additional 2,560 shares during the last quarter. First Pacific Advisors LP raised its position in Charter Communications by 1.2% in the 2nd quarter. First Pacific Advisors LP now owns 626,508 shares of the company’s stock valued at $256,123,000 after buying an additional 7,499 shares during the last quarter. Finally, Fulton Breakefield Broenniman LLC purchased a new stake in Charter Communications in the 2nd quarter valued at $789,000. 81.76% of the stock is owned by institutional investors and hedge funds.

About Charter Communications

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.