Charter Communications, Inc. (NASDAQ:CHTR) Given Average Recommendation of “Reduce” by Brokerages

Charter Communications, Inc. (NASDAQ:CHTR) has earned an average rating of “Reduce” from the twenty research firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $329.5625.

Several brokerages recently commented on CHTR. The Goldman Sachs Group started coverage on Charter Communications in a report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 target price on the stock. Citigroup cut their price target on shares of Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a report on Monday, November 3rd. BNP Paribas Exane dropped their target price on shares of Charter Communications from $255.00 to $200.00 and set an “underperform” rating on the stock in a report on Tuesday, November 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $280.00 price target (down previously from $350.00) on shares of Charter Communications in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a report on Monday.

Charter Communications Stock Performance

CHTR opened at $205.13 on Wednesday. The business’s 50 day moving average is $229.35 and its 200-day moving average is $293.94. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 4.89. The stock has a market cap of $26.55 billion, a PE ratio of 5.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. Charter Communications has a twelve month low of $193.00 and a twelve month high of $437.06.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results 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). The business had revenue of $13.67 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $8.82 EPS. On average, analysts predict that Charter Communications will post 38.16 earnings per share for the current year.

Insider Activity

In related news, Director David C. Merritt sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total value of $271,416.00. Following the completion of the transaction, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Dodge & Cox grew its position in Charter Communications by 6.1% during the third quarter. Dodge & Cox now owns 11,807,549 shares of the company’s stock valued at $3,248,316,000 after purchasing an additional 681,063 shares in the last quarter. Vanguard Group Inc. increased its position in Charter Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock worth $2,575,630,000 after purchasing an additional 1,130,648 shares during the last quarter. State Street Corp raised its stake in shares of Charter Communications by 22.7% during the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after purchasing an additional 1,475,383 shares in the last quarter. Norges Bank bought a new stake in shares of Charter Communications in the 2nd quarter valued at approximately $1,145,387,000. Finally, Geode Capital Management LLC grew its position in Charter Communications by 1.6% in the second quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock worth $1,056,800,000 after acquiring an additional 41,206 shares in the last quarter. 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.