Charter Communications (NASDAQ:CHTR) Hits New 1-Year Low Following Analyst Downgrade

Charter Communications, Inc. (NASDAQ:CHTR) reached a new 52-week low on Monday after The Goldman Sachs Group lowered their price target on the stock from $120.00 to $110.00. The Goldman Sachs Group currently has a sell rating on the stock. Charter Communications traded as low as $110.35 and last traded at $113.3870, with a volume of 306855 shares traded. The stock had previously closed at $112.91.

A number of other equities research analysts have also issued reports on the stock. BNP Paribas Exane cut their price objective on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, July 14th. Wells Fargo & Company cut their target price on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, July 27th. Freedom Capital upgraded shares of Charter Communications to a “hold” rating in a research note on Friday, June 12th. Sanford C. Bernstein reissued a “market perform” rating and set a $150.00 price objective on shares of Charter Communications in a report on Monday, July 27th. Finally, Zacks Research upgraded Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Charter Communications currently has a consensus rating of “Reduce” and an average price target of $215.17.

Institutional Investors Weigh In On Charter Communications

Several large investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC lifted its stake in shares of Charter Communications by 1,804.0% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 102,528 shares of the company’s stock valued at $21,403,000 after purchasing an additional 97,143 shares during the last quarter. Norges Bank bought a new position in shares of Charter Communications during the 4th quarter valued at approximately $555,383,000. Polianta Ltd purchased a new stake in Charter Communications during the 2nd quarter valued at $1,777,000. BW Gestao de Investimentos Ltda. purchased a new stake in Charter Communications during the 4th quarter valued at $3,131,000. Finally, California First Leasing Corp lifted its position in Charter Communications by 100.1% in the first quarter. California First Leasing Corp now owns 24,772 shares of the company’s stock worth $5,348,000 after buying an additional 12,390 shares during the last quarter. 81.76% of the stock is owned by institutional investors.

Charter Communications Price Performance

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 company has a market capitalization of $13.64 billion, a PE ratio of 2.97, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The firm’s 50 day simple moving average is $142.48 and its 200 day simple moving average is $160.88.

Charter Communications (NASDAQ:CHTR) last announced its 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 business had revenue of $13.53 billion for 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 business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.18 earnings per share. As a group, research analysts anticipate that Charter Communications, Inc. will post 42.72 EPS for the current fiscal year.

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.