Charter Communications (NASDAQ:CHTR) Sets New 52-Week Low After Analyst Downgrade

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) shares reached a new 52-week low during trading on Wednesday after Bank of America lowered their price target on the stock from $350.00 to $315.00. Bank of America currently has a neutral rating on the stock. Charter Communications traded as low as $261.26 and last traded at $264.03, with a volume of 147436 shares. The stock had previously closed at $271.46.

Other research analysts also recently issued reports about the company. Barclays reduced their price objective on Charter Communications from $280.00 to $250.00 and set an "underweight" rating on the stock in a report on Tuesday, April 2nd. UBS Group cut their price target on Charter Communications from $360.00 to $325.00 and set a "neutral" rating on the stock in a report on Thursday, March 28th. Benchmark cut their price target on Charter Communications from $490.00 to $440.00 and set a "buy" rating on the stock in a report on Monday, February 5th. Rosenblatt Securities downgraded Charter Communications from a "buy" rating to a "neutral" rating and cut their price target for the company from $472.00 to $335.00 in a report on Tuesday, February 20th. Finally, Pivotal Research cut their price target on Charter Communications from $500.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $388.67.

Institutional Trading of Charter Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Charter Communications by 9.7% in the 3rd quarter. AQR Capital Management LLC now owns 14,782 shares of the company's stock valued at $6,501,000 after buying an additional 1,311 shares during the period. River Road Asset Management LLC purchased a new position in shares of Charter Communications in the 3rd quarter valued at about $29,948,000. Graham Capital Management L.P. increased its stake in Charter Communications by 354.7% during the 3rd quarter. Graham Capital Management L.P. now owns 15,133 shares of the company's stock worth $6,656,000 after buying an additional 11,805 shares in the last quarter. DigitalBridge Group Inc. purchased a new stake in Charter Communications during the 3rd quarter worth approximately $16,411,000. Finally, Kinetic Partners Management LP increased its stake in Charter Communications by 51.3% during the 3rd quarter. Kinetic Partners Management LP now owns 177,801 shares of the company's stock worth $78,200,000 after buying an additional 60,300 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Trading Down 3.2 %

The company has a 50 day simple moving average of $292.98 and a 200 day simple moving average of $362.88. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $38.17 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 0.41 and a beta of 0.96.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, February 2nd. The company reported $7.07 earnings per share for the quarter, missing the consensus estimate of $8.76 by ($1.69). The company had revenue of $13.71 billion for the quarter, compared to analyst estimates of $13.70 billion. Charter Communications had a return on equity of 32.32% and a net margin of 8.35%. The company's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.69 earnings per share. Analysts anticipate that Charter Communications, Inc. will post 32.98 earnings per share for the current year.

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.