Charter Communications (NASDAQ:CHTR) Reaches New 12-Month Low After Analyst Downgrade

by · The Markets Daily

Charter Communications, Inc. (NASDAQ:CHTR – Get Free Report) reached a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $120.00 to $110.00. The Goldman Sachs Group currently has a sell rating on the stock. Charter Communications traded as low as $110.35 and last traded at $113.3870, with a volume of 306855 shares changing hands. The stock had previously closed at $112.91.

A number of other brokerages have also recently issued reports on CHTR. Bank of America reissued a “buy” rating on shares of Charter Communications in a report on Monday, July 27th. Wolfe Research reiterated an “underperform” rating and set a $118.00 price target on shares of Charter Communications in a research report on Monday, September 14th. Benchmark reiterated a “buy” rating on shares of Charter Communications in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a report on Monday, September 21st. Finally, TD Cowen reduced their price objective on Charter Communications from $413.00 to $380.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Charter Communications presently has a consensus rating of “Reduce” and a consensus price target of $215.17.

Get Our Latest Report on CHTR

Institutional Trading of Charter Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors boosted its stake in Charter Communications by 304.9% during the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after buying an additional 3,626,135 shares in the last quarter. State of Michigan Retirement System raised its position in Charter Communications by 1,547.4% in the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after acquiring an additional 405,385 shares in the last quarter. Tidal Investments LLC lifted its holdings in Charter Communications by 737.5% in the 2nd quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock valued at $34,344,000 after acquiring an additional 212,668 shares during the last quarter. Nykredit A S bought a new stake in shares of Charter Communications in the 2nd quarter worth approximately $23,610,000. Finally, Bank of America Corp DE raised its holdings in shares of Charter Communications by 28.4% in the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock worth $157,961,000 after purchasing an additional 161,888 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Trading Down 0.7%

The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 2.87, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The firm’s 50 day moving average is $141.78 and its 200 day moving average is $159.32. 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 earnings results on Friday, July 24th. The company reported $10.66 earnings per share (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 analysts’ expectations of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $9.18 EPS. Equities analysts forecast that Charter Communications, Inc. will post 42.72 earnings per share for the current year.

Charter Communications Company Profile

(Get Free Report)

Charter Communications, Inc is a telecommunications and media company that provides broadband connectivity and related communications services in the United States. Its consumer-facing operations are marketed primarily under the Spectrum brand and include high-speed internet, video entertainment, mobile wireless service and voice communications.

Charter also serves businesses and public-sector organizations with internet access, data networking, telephone, video and managed communications solutions.

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