Zacks Research Downgrades Charter Communications (NASDAQ:CHTR) to Strong Sell

Charter Communications (NASDAQ:CHTRGet Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. UBS Group reaffirmed a “neutral” rating and set a $235.00 price target on shares of Charter Communications in a research report on Thursday, June 25th. The Goldman Sachs Group lowered their price objective on Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research report on Thursday, July 2nd. JPMorgan Chase & Co. initiated coverage on Charter Communications in a research report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 target price on the stock. Freedom Capital raised Charter Communications to a “hold” rating in a research note on Friday, June 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $260.06.

View Our Latest Report on CHTR

Charter Communications Trading Up 1.9%

Shares of CHTR stock opened at $138.02 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications has a twelve month low of $124.05 and a twelve month high of $413.14. The company’s 50-day moving average price is $142.80 and its 200-day moving average price is $190.95. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of 3.73, a PEG ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTRGet Free Report) last released its quarterly earnings data on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.Charter Communications’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.42 earnings per share. As a group, equities analysts predict that Charter Communications will post 42.28 earnings per share for the current year.

Insider Activity at Charter Communications

In other news, Director Wade Davis bought 5,728 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was bought at an average cost of $173.72 per share, with a total value of $995,068.16. Following the transaction, the director directly owned 6,925 shares in the company, valued at $1,203,011. The trade was a 478.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Balan Nair purchased 1,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were acquired at an average price of $175.46 per share, for a total transaction of $175,460.00. Following the completion of the purchase, the director directly owned 12,029 shares of the company’s stock, valued at approximately $2,110,608.34. This trade represents a 9.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 20,125 shares of company stock worth $3,167,116 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHTR. AQR Capital Management LLC boosted its holdings in Charter Communications by 129.1% in the first quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock valued at $4,356,000 after purchasing an additional 6,691 shares during the period. Integrated Wealth Concepts LLC raised its position in Charter Communications by 16.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock valued at $336,000 after purchasing an additional 128 shares in the last quarter. Jones Financial Companies Lllp raised its position in Charter Communications by 48.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock valued at $493,000 after purchasing an additional 435 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after buying an additional 55 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Charter Communications by 451.1% during the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

About Charter Communications

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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