Shares of Charter Communications, Inc. (NASDAQ:CHTR – Get Free Report) have earned an average recommendation of “Reduce” from the twenty-one brokerages that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $200.18.
CHTR has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Charter Communications from $150.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Friday, September 25th. The Goldman Sachs Group reduced their price objective on Charter Communications from $120.00 to $110.00 and set a “sell” rating for the company in a research report on Friday, September 25th. Weiss Ratings downgraded shares of Charter Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Wells Fargo & Company lowered their price objective on Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, July 27th. Finally, Wolfe Research cut shares of Charter Communications from a “peer perform” rating to an “underperform” rating and set a $118.00 price target for the company. in a research report on Monday, September 14th.
Get Our Latest Stock Analysis on CHTR
Charter Communications News Roundup
Here are the key news stories impacting Charter Communications this week:
- Positive Sentiment: Charter reported Q3 revenue of $14.92 billion, above estimates, and adjusted EPS of $21.70, also ahead of consensus. Revenue growth was aided by the Cox acquisition. Charter Communications tops Q3 earnings and revenue estimates
- Positive Sentiment: The company launched a new operating model aimed at returning to growth, improving its internet offerings, and using mobile and video services to attract customers. Management’s plan includes about $2 billion in cost cuts, which could help profitability if executed. Charter announces Q3 results and launches new operating model
- Negative Sentiment: Broadband customer losses worsened in Q3, overshadowing the earnings and revenue beats. Investors are concerned that competition is making it harder for Charter to stabilize its core internet business. Charter’s cost-cutting plan is overshadowed by subscriber losses
- Negative Sentiment: A $6.33 billion franchise impairment drove a reported GAAP loss of $20.50 per share, creating a sharp contrast with the adjusted earnings beat. The impairment and declining cash flow added to concerns about the quarter’s underlying performance. Charter Q3 earnings beat on debt gain amid franchise impairment
Charter Communications Price Performance
CHTR opened at $118.07 on Friday. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 3.00, a PEG ratio of 0.24 and a beta of 0.73. Charter Communications has a twelve month low of $101.11 and a twelve month high of $254.11. The firm has a 50-day moving average price of $120.93 and a 200-day moving average price of $163.33. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32.
Charter Communications (NASDAQ:CHTR – Get Free Report) last announced its quarterly earnings results on Friday, November 6th. The company reported ($20.50) earnings per share for the quarter, missing the consensus estimate of $8.90 by ($29.40). Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The business had revenue of $14.92 billion during the quarter, compared to the consensus estimate of $13.50 billion. During the same quarter in the prior year, the firm posted $8.34 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts expect that Charter Communications will post 44.11 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Charter Communications by 507.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 767,841 shares of the company’s stock valued at $85,154,000 after purchasing an additional 641,422 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Charter Communications by 1,547.4% in the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after buying an additional 405,385 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Charter Communications by 443.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock valued at $46,565,000 after buying an additional 342,668 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Charter Communications by 562.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 328,457 shares of the company’s stock worth $36,426,000 after acquiring an additional 278,898 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Charter Communications by 737.5% during the second quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock worth $34,344,000 after buying an additional 212,668 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.
Charter Communications Company Profile
Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.
Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.
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