Charter Communications, Inc. (NASDAQ:CHTR) Receives Consensus Recommendation of “Reduce” from Analysts

Charter Communications, Inc. (NASDAQ:CHTR) has received an average rating of “Reduce” from the twenty brokerages that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $262.5625.

Several equities research analysts recently issued reports on CHTR shares. JPMorgan Chase & Co. began coverage on shares of Charter Communications in a research note on Wednesday, April 29th. They set a “neutral” rating and a $215.00 price target on the stock. Freedom Capital raised Charter Communications to a “hold” rating in a research report on Friday, June 12th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $235.00 price target on shares of Charter Communications in a research note on Thursday, June 25th.

Charter Communications Stock Down 1.9%

NASDAQ CHTR opened at $137.20 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications has a fifty-two week low of $124.05 and a fifty-two week high of $422.29. The business has a 50 day moving average price of $147.87 and a two-hundred day moving average price of $192.50. The stock has a market cap of $16.87 billion, a PE ratio of 3.71, a P/E/G ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the prior year, the business earned $8.42 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Charter Communications will post 43 EPS for the current fiscal year.

Insider Buying and Selling at Charter Communications

In other news, Director Mauricio Ramos acquired 9,929 shares of Charter Communications stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the purchase, the director directly owned 19,309 shares of the company’s stock, valued at $2,721,217.37. This trade represents a 105.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Balan Nair acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $175.46 per share, with a total value of $175,460.00. Following the acquisition, the director owned 12,029 shares of the company’s stock, valued at $2,110,608.34. This trade represents a 9.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its stake in Charter Communications by 304.9% in 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 acquiring an additional 3,626,135 shares during the period. Dodge & Cox grew its holdings in shares of Charter Communications by 23.7% during the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares during the last quarter. Norges Bank acquired a new stake in shares of Charter Communications during the 4th quarter worth approximately $555,383,000. Voyager Global Management LP lifted its holdings in shares of Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock worth $386,188,000 after purchasing an additional 1,725,000 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after purchasing an additional 1,617,148 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

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.