Charter Communications (NASDAQ:CHTR) Rating Lowered to Underperform at Wolfe Research

Charter Communications (NASDAQ:CHTR) was downgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “underperform” rating in a report issued on Monday, Marketbeat reports. They presently have a $300.00 price target on the stock. Wolfe Research’s price objective indicates a potential downside of 8.80% from the company’s previous close.

Several other brokerages also recently issued reports on CHTR. Morgan Stanley increased their price objective on Charter Communications from $330.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Charter Communications from $300.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Pivotal Research increased their price objective on Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on Charter Communications from $300.00 to $385.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group assumed coverage on Charter Communications in a research report on Monday, July 1st. They issued a “sell” rating and a $250.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $356.41.

Charter Communications Stock Performance

Charter Communications stock opened at $328.95 on Monday. The stock’s 50 day moving average price is $344.98 and its 200 day moving average price is $304.05. The firm has a market capitalization of $47.38 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.61 and a beta of 1.05. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.39 and a current ratio of 0.39. Charter Communications has a one year low of $236.08 and a one year high of $458.30.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The business had revenue of $13.69 billion during the quarter, compared to the consensus estimate of $13.59 billion. During the same period in the previous year, the business earned $8.05 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts expect that Charter Communications will post 32.52 EPS for the current fiscal year.

Institutional Trading of Charter Communications

Several hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors grew its stake in Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock valued at $3,068,661,000 after acquiring an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC grew its stake in Charter Communications by 96.5% in the 1st quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock worth $827,848,000 after buying an additional 1,399,034 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Charter Communications by 172,425.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock worth $104,188,000 after acquiring an additional 348,299 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of Charter Communications by 24.5% in the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock worth $479,337,000 after acquiring an additional 242,448 shares during the last quarter. Finally, Voyager Global Management LP raised its holdings in Charter Communications by 35.7% during the 4th quarter. Voyager Global Management LP now owns 475,000 shares of the company’s stock valued at $184,623,000 after buying an additional 125,000 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

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.