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

Key Points

• Charter Communications reached a new 52-week low after Goldman Sachs downgraded the stock and lowered its price target from $120 to $110. Shares traded as low as $110.35.
• Analyst sentiment is mixed but leans negative, with five Buy, ten Hold, and six Sell ratings; MarketBeat lists a consensus rating of “Reduce.”
• Institutional investors own 81.76% of the company, while Charter’s latest quarterly results exceeded earnings and revenue estimates despite a 1.7% year-over-year revenue decline.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) reached a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $120.00 to $110.00. The Goldman Sachs Group currently has a sell rating on the stock. Charter Communications traded as low as $110.35 and last traded at $113.3870, with a volume of 306855 shares. The stock had previously closed at $112.91.

Several other research analysts have also recently weighed in on CHTR. Sanford C. Bernstein reissued a "market perform" rating and set a $150.00 price objective on shares of Charter Communications in a report on Monday, July 27th. JPMorgan Chase & Co. cut their target price on shares of Charter Communications from $200.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Benchmark reiterated a "buy" rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Weiss Ratings restated a "sell (d+)" rating on shares of Charter Communications in a research note on Monday, September 21st. Finally, Wolfe Research reaffirmed an "underperform" rating and issued a $118.00 price objective on shares of Charter Communications in a report on Monday, September 14th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $215.17.

Institutional Investors Weigh In On Charter Communications

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

Charter Communications Stock Performance

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 company has a market cap of $13.64 billion, a P/E ratio of 2.97, a PEG ratio of 0.24 and a beta of 0.69. The business's 50 day simple moving average is $142.48 and its 200 day simple moving average is $160.88.

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

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company's consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.

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