Charter Communications (NASDAQ:CHTR) Sets New 1-Year Low - Here's What Happened

Key Points

• Charter Communications shares hit a new 52-week low, trading as low as $244.19, with a significant trading volume of 2,257,951 shares.
• Analysts have lowered their price targets for the stock, with UBS Group setting a target of $355.00 and Barclays reducing it to $275.00, indicating a predominantly cautious outlook.
• Charter Communications reported earnings of $9.18 per share, missing analysts' estimates and indicating a year-over-year revenue increase of only 0.6% for the quarter.

Shares of Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $244.19 and last traded at $244.94, with a volume of 2257951 shares. The stock had previously closed at $252.52.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Charter Communications in a report on Wednesday, October 8th. UBS Group cut their target price on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Sanford C. Bernstein cut their target price on shares of Charter Communications from $380.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 10th. Barclays cut their target price on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th. Finally, Royal Bank Of Canada cut their target price on shares of Charter Communications from $370.00 to $325.00 and set a "sector perform" rating on the stock in a research note on Monday, October 6th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $373.71.

Charter Communications Trading Down 3.0%

The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The business's 50-day moving average is $265.63 and its two-hundred day moving average is $333.21. The firm has a market cap of $33.46 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.58 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. During the same period in the prior year, the company earned $8.49 EPS. Charter Communications's quarterly revenue was up .6% on a year-over-year basis. As a group, analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Balan Nair bought 360 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the transaction, the director owned 9,622 shares in the company, valued at approximately $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher L. Winfrey bought 3,670 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the transaction, the chief executive officer owned 70,243 shares in the company, valued at $19,183,363.30. The trade was a 5.51% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL lifted its position in shares of Charter Communications by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company's stock valued at $1,153,000 after acquiring an additional 25 shares in the last quarter. Allworth Financial LP lifted its position in shares of Charter Communications by 10.5% in the 1st quarter. Allworth Financial LP now owns 283 shares of the company's stock valued at $104,000 after acquiring an additional 27 shares in the last quarter. Hemington Wealth Management lifted its position in shares of Charter Communications by 24.3% in the 1st quarter. Hemington Wealth Management now owns 143 shares of the company's stock valued at $52,000 after acquiring an additional 28 shares in the last quarter. Cooper Financial Group lifted its position in shares of Charter Communications by 2.3% in the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company's stock valued at $515,000 after acquiring an additional 28 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Charter Communications by 1.1% in the 1st quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock valued at $997,000 after buying an additional 29 shares during the period. 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.

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