Charter Communications (NASDAQ:CHTR) Hits New 1-Year Low - What's Next?

Key Points

• Charter Communications shares hit a new 52-week low, trading as low as $106.91 and last changing hands near $105.53, well below its 50-day and 200-day moving averages.
• Analyst sentiment is largely cautious: the stock has a consensus “Reduce” rating, with five Buys, ten Holds and seven Sells, and an average price target of $202.53.
• Despite declining 1.7% year over year, quarterly revenue of $13.53 billion slightly exceeded estimates, while EPS of $10.66 beat expectations of $9.98; institutional investors own 81.76% of the shares.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $106.91 and last traded at $105.5340, with a volume of 198660 shares changing hands. The stock had previously closed at $109.29.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Freedom Capital upgraded Charter Communications to a "hold" rating in a research report on Friday, June 12th. Morgan Stanley lowered their target price on Charter Communications from $150.00 to $140.00 and set an "equal weight" rating for the company in a research note on Friday, September 25th. Zacks Research raised shares of Charter Communications from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Wolfe Research restated an "underperform" rating and issued a $118.00 price target on shares of Charter Communications in a research note on Monday, September 14th. Finally, Bank of America reaffirmed a "buy" rating on shares of Charter Communications in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $202.53.

Charter Communications Price Performance

The business has a 50-day moving average of $140.83 and a two-hundred day moving average of $157.07. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The firm has a market cap of $12.81 billion, a P/E ratio of 2.78, a price-to-earnings-growth ratio of 0.23 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, beating the consensus estimate of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The firm had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period last year, the company earned $9.18 earnings per share. The business's quarterly revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Charter Communications, Inc. will post 42.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC bought a new stake in shares of Charter Communications in the first quarter worth $25,000. Trust Co. of Vermont acquired a new stake in Charter Communications in the second quarter valued at $28,000. MCF Advisors LLC raised its position in Charter Communications by 106.5% during the 2nd quarter. MCF Advisors LLC now owns 223 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Raiffeisen Bank International AG raised its position in Charter Communications by 259.7% during the 2nd quarter. Raiffeisen Bank International AG now owns 223 shares of the company's stock worth $33,000 after purchasing an additional 161 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Charter Communications by 1,600.0% during the 4th quarter. Manchester Capital Management LLC now owns 187 shares of the company's stock worth $39,000 after buying an additional 176 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

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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