Charter Communications, Inc. (CHTR) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Charter Communications, Inc. (NASDAQ:CHTR) from a sell rating to a hold rating in a report released on Friday morning.
According to Zacks, “We appreciate Charter's plans to execute field trials for 5G wireless network and plans to launch its wireless services in 2018. The wireless venture is aimed at retaining customers in this competitive world. The twin buyout of Time Warner Cable and Bright House Networks boost the company's fiber suite, bottom line and free cash flow. The company’s commercial segment is faring well evident from the revenue growth. However, Charter posted weak third-quarter 2017 financial results, with the loss of 1,04,000 video customers due to cord-cutting. Notably, online video streaming service providers pose severe threat to cable TV operators due to cheap source of TV programming. We are concerned about the company’s operation in a saturated and competitive multi-channel U.S. video market. Meanwhile, we view the high debt levels as a hazard. Over the past three months, the stock declined 13.5% while the industry declined 12.3%.”
Several other equities analysts have also recently issued reports on CHTR. Morgan Stanley lifted their price objective on shares of Charter Communications from $350.00 to $365.00 and gave the stock an overweight rating in a research note on Monday, July 17th. Pivotal Research reaffirmed a buy rating on shares of Charter Communications in a research note on Sunday, July 30th. Wells Fargo & Company reaffirmed a market perform rating and issued a $372.00 price objective (up previously from $330.00) on shares of Charter Communications in a research note on Sunday, July 30th. Deutsche Bank AG reaffirmed a buy rating and issued a $410.00 price objective (up previously from $390.00) on shares of Charter Communications in a research note on Monday, July 31st. Finally, BidaskClub raised shares of Charter Communications from a buy rating to a strong-buy rating in a research note on Tuesday, August 1st. Thirteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $378.12.
Shares of Charter Communications (NASDAQ:CHTR) traded down $2.76 on Friday, hitting $338.44. 870,100 shares of the stock traded hands, compared to its average volume of 2,592,424. The firm has a market cap of $84,139.57, a PE ratio of 210.21, a P/E/G ratio of 5.26 and a beta of 1.09. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.40 and a quick ratio of 0.40. Charter Communications has a 12 month low of $258.63 and a 12 month high of $408.83.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.77). The business had revenue of $10.46 billion during the quarter, compared to analyst estimates of $10.49 billion. Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. equities research analysts forecast that Charter Communications will post 2.77 earnings per share for the current fiscal year.
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In related news, CFO Christopher L. Winfrey purchased 3,100 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average cost of $323.61 per share, for a total transaction of $1,003,191.00. Following the completion of the acquisition, the chief financial officer now owns 49,916 shares in the company, valued at approximately $16,153,316.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.56% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Zeke Capital Advisors LLC boosted its holdings in shares of Charter Communications by 37.9% during the third quarter. Zeke Capital Advisors LLC now owns 2,275 shares of the company’s stock worth $827,000 after purchasing an additional 625 shares during the period. Twin Capital Management Inc. acquired a new stake in shares of Charter Communications during the third quarter worth approximately $915,000. Dai Ichi Life Insurance Company Ltd boosted its holdings in shares of Charter Communications by 22.1% during the third quarter. Dai Ichi Life Insurance Company Ltd now owns 27,233 shares of the company’s stock worth $9,897,000 after purchasing an additional 4,938 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Charter Communications by 12.9% during the third quarter. Schroder Investment Management Group now owns 93,771 shares of the company’s stock worth $33,845,000 after purchasing an additional 10,686 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Charter Communications by 306.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,359 shares of the company’s stock worth $5,945,000 after purchasing an additional 12,335 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
Charter Communications Company Profile
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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