Charter Communications (NASDAQ:CHTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “We remain concerned about the company’s operation in a saturated and competitive multi-channel U.S. video market. Charter continues to lose video customers due to cord-cutting. We view the high debt level as a potential hazard. Over the past three months, the stock price grew 1.7% but failed to beat the industry’s gain of 5.8%. On the flip side, Charter plans to launch its wireless services in 2018. The wireless venture is aimed at retaining customers in this competitive world. The company further plans to execute field trials for 5G wireless network. Charter and Altice USA have reached an agreement to broadcast their respective regional cable news networks. Charter and Viacom announced a multi-year renewal and expansion of their distribution relationship for the co-production of original content and collaboration around advanced advertising. Charter settled a pending year-long content licensing dispute with Univision Communications.”

Other analysts also recently issued research reports about the stock. Wells Fargo & Co reissued a “market perform” rating and issued a $359.00 price objective (up previously from $340.00) on shares of Charter Communications in a report on Thursday, January 4th. SunTrust Banks reissued a “buy” rating and issued a $380.00 price objective on shares of Charter Communications in a report on Friday, October 27th. Pivotal Research reissued a “buy” rating and issued a $420.00 price objective (up previously from $405.00) on shares of Charter Communications in a report on Friday, October 27th. Guggenheim raised shares of Charter Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Barclays downgraded shares of Charter Communications from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $267.01 to $283.00 in a report on Monday, December 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $382.53.

Charter Communications (NASDAQ CHTR) traded up $7.41 during midday trading on Thursday, reaching $365.25. 1,534,564 shares of the company’s stock were exchanged, compared to its average volume of 1,462,000. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.55. The company has a market cap of $88,960.00, a P/E ratio of 198.51, a P/E/G ratio of 2.53 and a beta of 1.06. Charter Communications has a 52-week low of $301.28 and a 52-week high of $408.83.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.77). The business had revenue of $10.46 billion during the quarter, compared to the consensus estimate of $10.49 billion. Charter Communications had a net margin of 1.93% and a return on equity of 0.91%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. research analysts forecast that Charter Communications will post 2.22 earnings per share for the current fiscal year.

In other news, CFO Christopher L. Winfrey purchased 3,100 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was bought at an average price of $323.61 per share, with a total value of $1,003,191.00. Following the acquisition, the chief financial officer now owns 49,916 shares in the company, valued at approximately $16,153,316.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CHTR. Thrivent Financial For Lutherans increased its position in Charter Communications by 2.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 8,140 shares of the company’s stock worth $2,742,000 after purchasing an additional 230 shares in the last quarter. MML Investors Services LLC increased its position in Charter Communications by 1.3% during the 2nd quarter. MML Investors Services LLC now owns 842 shares of the company’s stock worth $284,000 after purchasing an additional 11 shares in the last quarter. California Public Employees Retirement System increased its position in Charter Communications by 1.7% during the 2nd quarter. California Public Employees Retirement System now owns 439,462 shares of the company’s stock worth $148,033,000 after purchasing an additional 7,200 shares in the last quarter. Hanseatic Management Services Inc. increased its position in Charter Communications by 9.6% during the 2nd quarter. Hanseatic Management Services Inc. now owns 2,736 shares of the company’s stock worth $922,000 after purchasing an additional 239 shares in the last quarter. Finally, GQG Partners LLC increased its position in Charter Communications by 1,122.4% during the 2nd quarter. GQG Partners LLC now owns 147,760 shares of the company’s stock worth $49,773,000 after purchasing an additional 135,672 shares in the last quarter. Institutional investors and hedge funds own 72.15% of the company’s stock.

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Charter Communications Company Profile

Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.

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