BidaskClub Downgrades Charter Communications (NASDAQ:CHTR) to Sell

Charter Communications (NASDAQ:CHTR) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on CHTR. UBS Group increased their target price on shares of Charter Communications from $383.00 to $421.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Pivotal Research reiterated a “buy” rating and issued a $500.00 target price on shares of Charter Communications in a research report on Friday, July 26th. Cowen increased their target price on shares of Charter Communications from $413.00 to $433.00 and gave the stock an “in-line” rating in a research report on Monday, July 29th. Citigroup began coverage on shares of Charter Communications in a research report on Thursday, June 13th. They issued a “buy” rating and a $480.00 target price for the company. Finally, TD Securities cut their target price on shares of Charter Communications from $460.00 to $450.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $415.71.

Shares of NASDAQ:CHTR opened at $379.37 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The stock has a market cap of $84.07 billion, a P/E ratio of 72.68, a PEG ratio of 1.31 and a beta of 1.23. Charter Communications has a 52 week low of $272.91 and a 52 week high of $417.13. The company has a 50 day moving average price of $397.23.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $1.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.79 by ($0.40). Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The firm had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter last year, the company posted $1.15 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Charter Communications will post 6.91 EPS for the current year.

In other news, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total transaction of $389,780.00. Following the transaction, the director now owns 11,773 shares in the company, valued at approximately $4,588,879.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lance Conn sold 927 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total transaction of $370,800.00. Following the transaction, the director now owns 9,552 shares in the company, valued at approximately $3,820,800. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Charter Communications in the 2nd quarter valued at $34,000. Rational Advisors LLC grew its stake in Charter Communications by 230.3% in the 1st quarter. Rational Advisors LLC now owns 109 shares of the company’s stock valued at $38,000 after buying an additional 76 shares during the last quarter. TCG Advisors LP acquired a new position in Charter Communications in the 1st quarter valued at $42,000. Ibex Wealth Advisors acquired a new position in Charter Communications in the 2nd quarter valued at $49,000. Finally, Huntington National Bank grew its stake in Charter Communications by 31.1% in the 1st quarter. Huntington National Bank now owns 135 shares of the company’s stock valued at $47,000 after buying an additional 32 shares during the last quarter. Institutional investors own 72.55% of the company’s stock.

Charter Communications Company Profile

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

Read More: Fibonacci Channel

Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

Receive News & Ratings for Charter Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charter Communications and related companies with MarketBeat.com's FREE daily email newsletter.