Charter Communications, Inc. (NASDAQ:CHTR) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Analyst sentiment is cautious: Twenty-two analysts give Charter Communications an average “Reduce” rating, including seven sells, ten holds and five buys. The average 12-month price target is $202.53.
• Recent analyst actions were mixed but included significant target cuts, with Goldman Sachs lowering its target to $110 and UBS reducing its target to $140; Benchmark, Bank of America and Citigroup maintained “buy” ratings.
• Charter reported quarterly EPS of $10.66, exceeding the $9.98 consensus estimate, while revenue reached $13.53 billion but declined 1.7% year over year. Institutional investors and hedge funds own 81.76% of the stock.

Shares of Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) have received an average recommendation of "Reduce" from the twenty-two analysts that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $202.53.

CHTR has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Charter Communications from $120.00 to $110.00 and set a "sell" rating for the company in a research note on Friday, September 25th. Benchmark reiterated a "buy" rating on shares of Charter Communications in a report on Wednesday, July 22nd. Bank of America reissued a "buy" rating on shares of Charter Communications in a research report on Monday, July 27th. UBS Group decreased their price target on Charter Communications from $235.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Finally, Citigroup lowered their price target on Charter Communications from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th.

Hedge Funds Weigh In On Charter Communications

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Charter Communications by 28.4% in 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 during the last quarter. State of Michigan Retirement System increased its stake in shares of Charter Communications by 1,547.4% during the 1st 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 last quarter. Sei Investments Co. raised its holdings in shares of Charter Communications by 79.2% in the 1st quarter. Sei Investments Co. now owns 250,497 shares of the company's stock valued at $54,078,000 after purchasing an additional 110,684 shares during the period. Swiss National Bank raised 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 valued at $53,300,000 after purchasing an additional 3,560 shares during the period. Finally, Tidal Investments LLC lifted its stake in Charter Communications by 737.5% in the 2nd quarter. Tidal Investments LLC now owns 241,503 shares of the company's stock valued at $34,344,000 after purchasing an additional 212,668 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Stock Performance

Shares of CHTR stock opened at $107.77 on Tuesday. Charter Communications has a 12 month low of $104.91 and a 12 month high of $284.60. The company's fifty day simple moving average is $140.35 and its 200-day simple moving average is $156.27. The firm has a market cap of $12.85 billion, a PE ratio of 2.80, a P/E/G ratio of 0.23 and a beta of 0.70. 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 released its earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts' consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same quarter last year, the firm earned $9.18 earnings per share. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts expect that Charter Communications will post 42.72 EPS for the current fiscal year.

Charter Communications Company Profile

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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