Charter Communications (NASDAQ:CHTR) Sets New 12-Month Low Following Analyst Downgrade

Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week low during trading on Tuesday after Rosenblatt Securities lowered their price target on the stock from $334.00 to $297.00. Rosenblatt Securities currently has a neutral rating on the stock. Charter Communications traded as low as $254.31 and last traded at $257.87, with a volume of 178913 shares traded. The stock had previously closed at $256.90.

Other equities research analysts have also recently issued research reports about the stock. Bank of America lowered their target price on shares of Charter Communications from $350.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Wells Fargo & Company lowered their target price on shares of Charter Communications from $340.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Friday, April 5th. Sanford C. Bernstein raised shares of Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a research note on Monday, March 18th. Benchmark lowered their target price on shares of Charter Communications from $490.00 to $440.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Finally, Pivotal Research lowered their target price on shares of Charter Communications from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Charter Communications presently has an average rating of “Hold” and an average target price of $386.13.

Hedge Funds Weigh In On Charter Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rosenberg Matthew Hamilton boosted its holdings in Charter Communications by 20.5% in the third quarter. Rosenberg Matthew Hamilton now owns 141 shares of the company’s stock valued at $62,000 after purchasing an additional 24 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Charter Communications by 4.8% in the third quarter. Proficio Capital Partners LLC now owns 595 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares in the last quarter. CX Institutional boosted its holdings in Charter Communications by 2.3% in the third quarter. CX Institutional now owns 1,185 shares of the company’s stock valued at $521,000 after purchasing an additional 27 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Charter Communications by 32.1% in the third quarter. Catalyst Capital Advisors LLC now owns 111 shares of the company’s stock valued at $49,000 after purchasing an additional 27 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Charter Communications by 9.8% in the third quarter. Parkside Financial Bank & Trust now owns 313 shares of the company’s stock valued at $138,000 after buying an additional 28 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Stock Performance

The company has a debt-to-equity ratio of 6.51, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a 50 day simple moving average of $286.40 and a two-hundred day simple moving average of $357.96. The company has a market cap of $37.31 billion, a PE ratio of 8.56, a PEG ratio of 0.44 and a beta of 0.96.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, February 2nd. The company reported $7.07 earnings per share for the quarter, missing analysts’ consensus estimates of $8.76 by ($1.69). Charter Communications had a net margin of 8.35% and a return on equity of 32.32%. The firm had revenue of $13.71 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter in the prior year, the firm posted $7.69 EPS. Charter Communications’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts predict that Charter Communications, Inc. will post 32.58 EPS for the current year.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.