Charter Communications (NASDAQ:CHTR) Reaches New 52-Week Low – Here’s Why

Shares of Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week low during trading on Friday . The company traded as low as $251.23 and last traded at $252.33, with a volume of 804099 shares. The stock had previously closed at $255.34.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Charter Communications from $370.00 to $325.00 and set a “hold” rating for the company in a report on Monday, October 6th. Citigroup assumed coverage on Charter Communications in a research note on Monday, October 6th. They set a “buy” rating and a $325.00 target price for the company. Sanford C. Bernstein dropped their price target on shares of Charter Communications from $380.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, September 10th. Royal Bank Of Canada cut their price target on shares of Charter Communications from $370.00 to $325.00 and set a “sector perform” rating on the stock in a report on Monday, October 6th. Finally, Barclays cut their target price on shares of Charter Communications from $341.00 to $275.00 and set an “underweight” rating on the stock in a research note on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $373.71.

Charter Communications Price Performance

The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. The company has a fifty day moving average price of $266.47 and a 200 day moving average price of $335.23. The company has a market capitalization of $34.58 billion, a P/E ratio of 6.93, a price-to-earnings-growth ratio of 0.58 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). The company had revenue of $13.77 billion for 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%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.49 EPS. On average, sell-side analysts forecast that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insider Transactions at Charter Communications

In other news, CEO Christopher L. Winfrey acquired 3,670 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the transaction, the chief executive officer directly owned 70,243 shares in the company, valued at $19,183,363.30. This trade represents a 5.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balan Nair bought 360 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $274.21 per share, with a total value of $98,715.60. Following the transaction, the director owned 9,622 shares in the company, valued at $2,638,448.62. The trade was a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Charter Communications

A number of hedge funds and other institutional investors have recently modified their holdings of CHTR. Norges Bank acquired a new position in Charter Communications during the 2nd quarter valued at about $1,145,387,000. JPMorgan Chase & Co. increased its stake in shares of Charter Communications by 53.6% during the first quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company’s stock valued at $851,331,000 after acquiring an additional 806,145 shares during the period. Allianz Asset Management GmbH raised its holdings in Charter Communications by 48.8% during the second quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company’s stock worth $304,674,000 after purchasing an additional 244,324 shares in the last quarter. Lind Value II ApS acquired a new stake in Charter Communications in the third quarter worth approximately $60,646,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Charter Communications by 15.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,575,818 shares of the company’s stock valued at $644,210,000 after purchasing an additional 209,869 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

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.