Charter Communications (NASDAQ:CHTR) Sets New 1-Year Low on Analyst Downgrade

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price reached a new 52-week low during mid-day trading on Friday after Sanford C. Bernstein lowered their price target on the stock from $280.00 to $240.00. Sanford C. Bernstein currently has a market perform rating on the stock. Charter Communications traded as low as $192.52 and last traded at $193.4110, with a volume of 209153 shares. The stock had previously closed at $194.61.

CHTR has been the subject of a number of other research reports. Bank of America cut their price target on shares of Charter Communications from $440.00 to $355.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Oppenheimer lowered shares of Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Benchmark dropped their target price on shares of Charter Communications from $475.00 to $425.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Wells Fargo & Company reissued an “underweight” rating and set a $180.00 price target (down previously from $240.00) on shares of Charter Communications in a research note on Tuesday. Finally, Barclays decreased their price target on Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday, November 3rd. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $314.88.

Insider Transactions at Charter Communications

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of Charter Communications 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 sale, the director directly owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. The trade was a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Charter Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp acquired a new stake in Charter Communications in the 2nd quarter worth about $25,000. Ameritas Advisory Services LLC purchased a new position in shares of Charter Communications during the 2nd quarter worth about $28,000. Webster Bank N. A. acquired a new stake in shares of Charter Communications in the third quarter worth approximately $28,000. Heritage Wealth Advisors purchased a new stake in Charter Communications in the second quarter valued at approximately $29,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Charter Communications during the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Performance

The company has a market cap of $24.56 billion, a PE ratio of 5.27, a P/E/G ratio of 0.53 and a beta of 1.06. The stock’s 50 day simple moving average is $204.71 and its two-hundred day simple moving average is $258.90. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 4.89.

Charter Communications (NASDAQ:CHTR) last announced 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). The company had revenue of $13.67 billion for the quarter, compared to analysts’ expectations of $13.76 billion. Charter Communications had a net margin of 9.29% and a return on equity of 25.55%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $8.82 earnings per share. As a group, research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

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.