Charter Communications (NASDAQ:CHTR) Upgraded at Arete Research

Key Points

• Arete Research upgraded Charter Communications to a “strong sell” rating, adding to a generally negative analyst outlook. The stock has a consensus rating of “Reduce,” with 22 analysts issuing five Buy, ten Hold, and seven Sell ratings.
• Charter shares opened at $111.37, near their 52-week low of $108.65 and well below the 52-week high of $284.60. Several analysts recently cut their price targets, with the consensus target at $215.17.
• The company beat quarterly earnings expectations, reporting $10.66 in EPS versus the $9.98 consensus and $13.53 billion in revenue, though revenue declined 1.7% year over year. Institutional investors own 81.76% of the stock.

Charter Communications (NASDAQ:CHTR - Get Free Report) was upgraded by research analysts at Arete Research to a "strong sell" rating in a report issued on Thursday, Zacks reports.

A number of other equities analysts also recently issued reports on CHTR. TD Cowen lowered their price objective on Charter Communications from $413.00 to $380.00 and set a "buy" rating for the company in a research report on Monday, July 27th. Wells Fargo & Company reduced their target price on Charter Communications from $160.00 to $101.00 and set an "underweight" rating on the stock in a report on Monday, July 27th. Royal Bank Of Canada lowered their price target on shares of Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a report on Monday, July 27th. UBS Group dropped their price target on shares of Charter Communications from $235.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Charter Communications in a research note on Monday, September 21st. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $215.17.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $111.37 on Thursday. The firm has a market cap of $13.28 billion, a PE ratio of 2.89, a price-to-earnings-growth ratio of 0.23 and a beta of 0.70. The firm's fifty day moving average is $141.11 and its 200-day moving average is $157.84. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. Charter Communications has a 52 week low of $108.65 and a 52 week high of $284.60.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping the consensus estimate of $9.98 by $0.68. The company had revenue of $13.53 billion for the quarter, compared to analysts' expectations of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. Charter Communications's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.18 earnings per share. Sell-side analysts predict that Charter Communications will post 42.72 earnings per share for the current year.

Institutional Investors Weigh In On Charter Communications

Large investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its stake in Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company's stock worth $1,005,222,000 after buying an additional 3,626,135 shares during the period. Bank of America Corp DE increased its holdings in shares of Charter Communications by 28.4% during the first quarter. Bank of America Corp DE now owns 731,708 shares of the company's stock valued at $157,961,000 after acquiring an additional 161,888 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Charter Communications by 1,547.4% during the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company's stock worth $93,170,000 after purchasing an additional 405,385 shares during the period. Sei Investments Co. raised its position in shares of Charter Communications by 79.2% during the first quarter. Sei Investments Co. now owns 250,497 shares of the company's stock worth $54,078,000 after purchasing an additional 110,684 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Charter Communications by 1.5% in the 1st quarter. Swiss National Bank now owns 246,896 shares of the company's stock worth $53,300,000 after purchasing an additional 3,560 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

About Charter Communications

Charter Communications, Inc is a telecommunications and media company that provides broadband connectivity and related communications services in the United States. Its consumer-facing operations are marketed primarily under the Spectrum brand and include high-speed internet, video entertainment, mobile wireless service and voice communications.

Charter also serves businesses and public-sector organizations with internet access, data networking, telephone, video and managed communications solutions.

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