Charter Communications (NASDAQ:CHTR) Sets New 1-Year Low After Analyst Downgrade

Charter Communications, Inc. (NASDAQ:CHTR) shares reached a new 52-week low during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $350.00 to $315.00. Bank of America currently has a neutral rating on the stock. Charter Communications traded as low as $261.26 and last traded at $264.03, with a volume of 147436 shares. The stock had previously closed at $271.46.

A number of other research firms have also weighed in on CHTR. UBS Group lowered their target price on Charter Communications from $360.00 to $325.00 and set a “neutral” rating for the company in a research note on Thursday, March 28th. Pivotal Research lowered their target price on Charter Communications from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Sanford C. Bernstein raised Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, March 18th. JPMorgan Chase & Co. lowered their target price on Charter Communications from $370.00 to $335.00 and set a “neutral” rating for the company in a research note on Monday, April 1st. Finally, Wells Fargo & Company lowered their price target on Charter Communications from $340.00 to $290.00 and set an “equal weight” rating for the company in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $388.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in Charter Communications during the 1st quarter valued at approximately $94,000. American Century Companies Inc. increased its position in Charter Communications by 10.6% during the 1st quarter. American Century Companies Inc. now owns 3,363 shares of the company’s stock valued at $1,834,000 after buying an additional 322 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Charter Communications by 12,010.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,211 shares of the company’s stock valued at $660,000 after buying an additional 1,201 shares in the last quarter. Cetera Investment Advisers increased its position in Charter Communications by 4.5% during the 1st quarter. Cetera Investment Advisers now owns 860 shares of the company’s stock valued at $469,000 after buying an additional 37 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in Charter Communications by 19.4% during the 1st quarter. Moors & Cabot Inc. now owns 727 shares of the company’s stock valued at $397,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Trading Down 3.2 %

The company has a market cap of $38.17 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 0.41 and a beta of 0.96. The stock has a 50-day moving average of $290.83 and a two-hundred day moving average of $362.18. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.31 and a current ratio of 0.31.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, February 2nd. The company reported $7.07 EPS for the quarter, missing analysts’ consensus estimates of $8.76 by ($1.69). The business had revenue of $13.71 billion during the quarter, compared to the consensus estimate of $13.70 billion. Charter Communications had a return on equity of 32.32% and a net margin of 8.35%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $7.69 EPS. On average, equities research analysts predict that Charter Communications, Inc. will post 32.98 earnings per share for the current year.

Charter Communications Company Profile

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.