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

Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week low during trading on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $325.00 to $275.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Charter Communications traded as low as $214.83 and last traded at $222.20, with a volume of 2991872 shares trading hands. The stock had previously closed at $233.84.

CHTR has been the subject of several other reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Charter Communications in a research report on Wednesday, October 8th. Oppenheimer cut Charter Communications from an “outperform” rating to a “market perform” rating in a research report on Tuesday. UBS Group cut their price objective on Charter Communications from $425.00 to $355.00 and set a “neutral” rating for the company in a research report on Monday, July 28th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $280.00 price objective (down from $350.00) on shares of Charter Communications in a research report on Monday. Finally, The Goldman Sachs Group started coverage on Charter Communications in a research report on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $329.56.

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH raised its holdings in Charter Communications by 13.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 842,290 shares of the company’s stock valued at $231,718,000 after acquiring an additional 97,019 shares in the last quarter. Peak Retirement Planning Inc. raised its holdings in Charter Communications by 115.5% in the 3rd quarter. Peak Retirement Planning Inc. now owns 8,027 shares of the company’s stock valued at $2,208,000 after acquiring an additional 4,302 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in Charter Communications by 418.3% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 311 shares of the company’s stock valued at $86,000 after acquiring an additional 251 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Charter Communications by 224.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,463 shares of the company’s stock valued at $400,000 after acquiring an additional 1,012 shares in the last quarter. Finally, National Pension Service raised its holdings in Charter Communications by 3.6% in the 3rd quarter. National Pension Service now owns 172,800 shares of the company’s stock valued at $47,538,000 after acquiring an additional 6,049 shares in the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Price Performance

The stock has a market capitalization of $30.17 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 0.55 and a beta of 1.05. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The company has a fifty day simple moving average of $259.92 and a two-hundred day simple moving average of $326.85.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data 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 company had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $8.82 earnings per share. As a group, equities research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Charter Communications Company Profile

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.