Charter Communications (NASDAQ:CHTR) Receives Underweight Rating from Wells Fargo & Company

Charter Communications (NASDAQ:CHTR)‘s stock had its “underweight” rating reiterated by analysts at Wells Fargo & Company in a research report issued on Tuesday, MarketBeat Ratings reports. They presently have a $180.00 price target on the stock, down from their previous price target of $240.00. Wells Fargo & Company‘s target price suggests a potential downside of 11.85% from the stock’s current price.

CHTR has been the topic of several other research reports. KeyCorp restated a “sector weight” rating on shares of Charter Communications in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charter Communications from $325.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, November 3rd. Bank of America lowered their price target on Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Oppenheimer lowered shares of Charter Communications from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Finally, UBS Group reduced their price objective on shares of Charter Communications from $355.00 to $233.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $317.38.

Charter Communications Stock Performance

CHTR stock opened at $204.19 on Tuesday. Charter Communications has a 1-year low of $193.00 and a 1-year high of $437.06. The business has a 50-day moving average price of $206.69 and a 200 day moving average price of $262.72. The company has a debt-to-equity ratio of 4.89, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $26.42 billion, a P/E ratio of 5.73, a PEG ratio of 0.57 and a beta of 1.06.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.32). Charter Communications had a net margin of 9.29% and a return on equity of 25.55%. The business had revenue of $13.67 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the previous year, the firm posted $8.82 earnings per share. The business’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts forecast that Charter Communications will post 38.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David C. Merritt sold 1,200 shares of Charter Communications stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the sale, the director owned 10,146 shares in the company, valued at $2,294,822.28. This trade represents a 10.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Avanza Fonder AB grew its holdings in Charter Communications by 47.3% during the 4th quarter. Avanza Fonder AB now owns 9,717 shares of the company’s stock worth $2,028,000 after acquiring an additional 3,121 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Charter Communications by 229.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 138,972 shares of the company’s stock valued at $29,010,000 after acquiring an additional 96,754 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Charter Communications by 3.0% in the 4th quarter. Nordea Investment Management AB now owns 11,604 shares of the company’s stock valued at $2,420,000 after acquiring an additional 341 shares during the period. Central Pacific Bank Trust Division boosted its position in Charter Communications by 15.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,175 shares of the company’s stock valued at $1,080,000 after purchasing an additional 700 shares in the last quarter. Finally, Chemistry Wealth Management LLC grew its stake in Charter Communications by 45.2% in the fourth quarter. Chemistry Wealth Management LLC now owns 1,571 shares of the company’s stock valued at $328,000 after purchasing an additional 489 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

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.