Charter Communications (NASDAQ:CHTR) Hits New 52-Week Low After Analyst Downgrade

Charter Communications, Inc. (NASDAQ:CHTR)’s share price hit 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 trading hands. The stock had previously closed at $194.61.

Other equities research analysts have also issued research reports about the stock. KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a report on Monday, November 3rd. Oppenheimer downgraded Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a report on Monday, December 29th. Wells Fargo & Company reissued an “underweight” rating and set a $180.00 price objective (down from $240.00) on shares of Charter Communications in a research report on Tuesday. Finally, The Goldman Sachs Group decreased their target price on shares of Charter Communications from $215.00 to $210.00 and set a “sell” rating on the stock in a research report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, Charter Communications currently has an average rating of “Reduce” and a consensus price target of $314.88.

Insider Activity at Charter Communications

In other news, Director David C. Merritt sold 1,200 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total value of $271,416.00. Following the sale, the director directly owned 10,146 shares in the company, valued at approximately $2,294,822.28. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp purchased a new position in Charter Communications in the second quarter worth approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Charter Communications during the 2nd quarter worth $28,000. Webster Bank N. A. acquired a new position in shares of Charter Communications during the third quarter worth $28,000. Heritage Wealth Advisors purchased a new position in Charter Communications in the second quarter valued at $29,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Charter Communications in the third quarter valued at $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 capitalization of $24.91 billion, a price-to-earnings ratio of 5.34, a PEG ratio of 0.55 and a beta of 1.06. The company has a debt-to-equity ratio of 4.89, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a 50 day simple moving average of $205.31 and a two-hundred day simple moving average of $260.42.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.32). The business had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.Charter Communications’s revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $8.82 EPS. As a group, 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.