Charter Communications (NASDAQ:CHTR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Charter Communications (NASDAQ:CHTR) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on CHTR. New Street Research reduced their price objective on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. JPMorgan Chase & Co. reduced their price target on shares of Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. TD Cowen lowered their price target on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a report on Monday, July 27th. Finally, The Goldman Sachs Group decreased their target price on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research report on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $226.88.

Charter Communications Stock Up 0.1%

Shares of Charter Communications stock opened at $153.17 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The business has a 50-day moving average price of $135.93 and a 200 day moving average price of $180.41. Charter Communications has a fifty-two week low of $111.55 and a fifty-two week high of $285.82. The firm has a market cap of $18.27 billion, a P/E ratio of 3.98, a P/E/G ratio of 0.25 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion for the quarter, compared to analysts’ expectations of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the business posted $9.18 earnings per share. On average, sell-side analysts forecast that Charter Communications will post 42.72 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Thomas Rutledge sold 18,200 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total value of $2,674,308.00. Following the completion of the sale, the director owned 3,968 shares of the company’s stock, valued at $583,057.92. This represents a 82.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mauricio Ramos bought 9,929 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the transaction, the director directly owned 19,309 shares in the company, valued at $2,721,217.37. This represents a 105.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Tema ETFs LLC raised its holdings in Charter Communications by 8.3% during the second quarter. Tema ETFs LLC now owns 1,889 shares of the company’s stock worth $269,000 after purchasing an additional 145 shares in the last quarter. Polianta Ltd bought a new stake in shares of Charter Communications in the 2nd quarter worth $1,777,000. Czech National Bank lifted its holdings in shares of Charter Communications by 1.5% in the second quarter. Czech National Bank now owns 23,804 shares of the company’s stock valued at $3,385,000 after buying an additional 352 shares during the period. Assenagon Asset Management S.A. boosted its stake in Charter Communications by 61.0% during the second quarter. Assenagon Asset Management S.A. now owns 77,213 shares of the company’s stock valued at $10,980,000 after buying an additional 29,242 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in Charter Communications by 3.0% during the second quarter. Central Pacific Bank Trust Division now owns 5,383 shares of the company’s stock worth $766,000 after acquiring an additional 156 shares during the period. Institutional investors and hedge funds 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.