Charter Communications (NASDAQ:CHTR) Hits New 12-Month Low After Earnings Miss

Charter Communications, Inc. (NASDAQ:CHTR)’s share price reached a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $236.08 and last traded at $251.78, with a volume of 639169 shares. The stock had previously closed at $259.10.

The company reported $7.55 earnings per share for the quarter, missing analysts’ consensus estimates of $7.78 by ($0.23). Charter Communications had a return on equity of 32.32% and a net margin of 8.35%. The firm had revenue of $13.68 billion for the quarter, compared to analyst estimates of $13.75 billion. During the same period last year, the business earned $6.65 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CHTR. Bank of America cut their target price on shares of Charter Communications from $350.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Sanford C. Bernstein upgraded shares of Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, March 18th. Benchmark cut their target price on shares of Charter Communications from $490.00 to $440.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Rosenblatt Securities cut their target price on shares of Charter Communications from $334.00 to $297.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Finally, UBS Group cut their target price on shares of Charter Communications from $360.00 to $325.00 and set a “neutral” rating for the company in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Charter Communications currently has a consensus rating of “Hold” and an average price target of $380.80.

Institutional Investors Weigh In On Charter Communications

Institutional investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. bought a new stake in Charter Communications during the 4th quarter worth about $25,000. Catalyst Capital Advisors LLC lifted its position in Charter Communications by 32.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 111 shares of the company’s stock worth $49,000 after buying an additional 27 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Charter Communications during the 4th quarter worth about $44,000. Cullen Frost Bankers Inc. lifted its position in Charter Communications by 769.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock worth $44,000 after buying an additional 100 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Charter Communications during the 3rd quarter worth about $56,000. 81.76% of the stock is owned by institutional investors.

Charter Communications Stock Down 1.4 %

The firm’s 50-day simple moving average is $281.92 and its 200 day simple moving average is $349.44. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $37.09 billion, a P/E ratio of 8.63, a PEG ratio of 0.46 and a beta of 0.96.

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.