Zacks Investment Research cut shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a sell rating in a report issued on Thursday.

According to Zacks, “We remain concerned about the company’s operation in a saturated and competitive multi-channel U.S. video market. Charter continues to lose video customers due to cord-cutting. We view the high debt level as a potential hazard. Over the past three months, the stock price grew 1.7% but failed to beat the industry’s gain of 5.8%. On the flip side, Charter plans to launch its wireless services in 2018. The wireless venture is aimed at retaining customers in this competitive world. The company further plans to execute field trials for 5G wireless network. Charter and Altice USA have reached an agreement to broadcast their respective regional cable news networks. Charter and Viacom announced a multi-year renewal and expansion of their distribution relationship for the co-production of original content and collaboration around advanced advertising. Charter settled a pending year-long content licensing dispute with Univision Communications.”

Several other research analysts have also issued reports on the stock. Moffett Nathanson upgraded shares of Charter Communications from a neutral rating to a buy rating in a research report on Monday, January 8th. Wells Fargo & Co restated a market perform rating and issued a $359.00 price target (up previously from $340.00) on shares of Charter Communications in a research report on Thursday, January 4th. Guggenheim upgraded shares of Charter Communications from a neutral rating to a buy rating in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Charter Communications from a strong sell rating to a sell rating in a research report on Wednesday, December 27th. Finally, Buckingham Research initiated coverage on shares of Charter Communications in a research report on Wednesday, December 13th. They set a buy rating and a $415.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $382.53.

Charter Communications (NASDAQ CHTR) traded up $0.80 during trading on Thursday, reaching $366.05. 1,453,300 shares of the company’s stock traded hands, compared to its average volume of 1,461,462. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $91,000.00, a price-to-earnings ratio of 198.94, a price-to-earnings-growth ratio of 2.41 and a beta of 1.06. Charter Communications has a 12-month low of $306.16 and a 12-month high of $408.83.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results 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 company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. analysts predict that Charter Communications will post 2.09 EPS for the current fiscal year.

In related news, CFO Christopher L. Winfrey bought 3,100 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was bought at an average price of $323.61 per share, with a total value of $1,003,191.00. Following the purchase, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at approximately $16,153,316.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.56% of the company’s stock.

Several large investors have recently modified their holdings of CHTR. Ameriprise Financial Inc. boosted its stake in shares of Charter Communications by 315.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,384,725 shares of the company’s stock valued at $503,237,000 after buying an additional 1,051,151 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Charter Communications by 2,099.6% during the 2nd quarter. Janus Henderson Group PLC now owns 604,019 shares of the company’s stock valued at $203,464,000 after buying an additional 576,559 shares during the period. Brown Advisory Inc. boosted its stake in shares of Charter Communications by 623.2% during the 3rd quarter. Brown Advisory Inc. now owns 592,689 shares of the company’s stock valued at $215,394,000 after buying an additional 510,735 shares during the period. Capital World Investors boosted its stake in shares of Charter Communications by 4.1% during the 2nd quarter. Capital World Investors now owns 10,215,326 shares of the company’s stock valued at $3,441,033,000 after buying an additional 402,167 shares during the period. Finally, Harris Associates L P boosted its stake in shares of Charter Communications by 19.2% during the 2nd quarter. Harris Associates L P now owns 2,040,836 shares of the company’s stock valued at $687,456,000 after buying an additional 328,988 shares during the period. 72.19% of the stock is owned by institutional investors.

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About Charter Communications

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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