Charter Communications (NASDAQ:CHTR) Shares Down 7.1% – What’s Next?

by · The Cerbat Gem

Charter Communications, Inc. (NASDAQ:CHTR – Get Free Report)’s share price fell 7.1% on Wednesday . The company traded as low as $136.34 and last traded at $135.37. 1,930,372 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 2,745,442 shares. The stock had previously closed at $145.74.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CHTR shares. The Goldman Sachs Group reduced their price objective on Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research report on Thursday, July 2nd. Wells Fargo & Company decreased their price objective on Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, July 27th. New Street Research dropped their target price on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Royal Bank Of Canada cut their target price on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating for the company in a research report on Monday, July 27th. Finally, Benchmark reaffirmed a “buy” rating on shares of Charter Communications in a report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $226.88.

Check Out Our Latest Research Report on Charter Communications

Charter Communications Stock Performance

The stock has a market cap of $16.08 billion, a P/E ratio of 3.50, a PEG ratio of 0.32 and a beta of 0.69. The stock has a fifty day simple moving average of $143.53 and a 200-day simple moving average of $170.04. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR – Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion for the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $9.18 earnings per share. Equities analysts expect that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

Institutional Trading of Charter Communications

A number of hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in shares of Charter Communications by 18,016.6% during the second quarter. California State Teachers Retirement System now owns 20,290,238 shares of the company’s stock worth $2,885,475,000 after acquiring an additional 20,178,240 shares during the period. Capital Research Global Investors lifted its holdings in shares of Charter Communications by 304.9% in the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after acquiring an additional 3,626,135 shares during the last quarter. Dodge & Cox boosted its position in Charter Communications by 23.7% in the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after buying an additional 2,801,671 shares in the last quarter. Norges Bank bought a new stake in Charter Communications during the 4th quarter worth $555,383,000. Finally, Voyager Global Management LP increased its stake in shares of Charter Communications by 1,380.0% in the fourth quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after buying an additional 1,725,000 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Company Profile

(Get Free Report)

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.

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