Charter Communications (NASDAQ:CHTR) Stock Price Down 7.1% – What’s Next?

Charter Communications, Inc. (NASDAQ:CHTR) traded down 7.1% on Wednesday . The stock traded as low as $136.34 and last traded at $135.37. Approximately 1,930,372 shares were traded during trading, a decline of 30% from the average session volume of 2,745,442 shares. The stock had previously closed at $145.74.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CHTR. Royal Bank Of Canada decreased their price target on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a report on Monday, July 27th. Bank of America reiterated a “buy” rating on shares of Charter Communications in a research report on Monday, July 27th. The Goldman Sachs Group reduced their target price on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, July 2nd. New Street Research dropped their price target on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Finally, UBS Group reduced their price objective on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Charter Communications presently has an average rating of “Hold” and an average price target of $226.88.

Charter Communications Stock Up 5.0%

The company has a market cap of $16.77 billion, a P/E ratio of 3.65, a price-to-earnings-growth ratio of 0.28 and a beta of 0.69. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The business’s fifty day moving average is $143.48 and its two-hundred day moving average is $168.72.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating the consensus estimate of $9.98 by $0.68. The firm had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.18 earnings per share. Equities analysts predict that Charter Communications, Inc. will post 42.72 EPS for the current year.

Institutional Investors Weigh In On Charter Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Charter Communications by 10.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,745 shares of the company’s stock worth $675,000 after buying an additional 463 shares during the period. Tidal Investments LLC raised its holdings in shares of Charter Communications by 737.5% in the second quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock valued at $34,344,000 after acquiring an additional 212,668 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of Charter Communications by 106.5% in the second quarter. MCF Advisors LLC now owns 223 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Engineers Gate Manager LP lifted its stake in Charter Communications by 569.0% in the second quarter. Engineers Gate Manager LP now owns 13,407 shares of the company’s stock worth $1,907,000 after acquiring an additional 11,403 shares during the period. Finally, Cidel Asset Management Inc. lifted its stake in Charter Communications by 36.3% in the second quarter. Cidel Asset Management Inc. now owns 5,076 shares of the company’s stock worth $722,000 after acquiring an additional 1,351 shares during the period. 81.76% of the stock is owned by institutional investors.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company’s consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.