Charter Communications (NASDAQ:CHTR) Stock Falls 5.4% - Here's Why

Key Points

• Charter Communications shares fell 5.4% to about $104.10, with trading volume roughly 77% below its average daily level.
• Analyst sentiment remains cautious: JPMorgan, Wells Fargo and RBC lowered their price targets, while MarketBeat data shows an average rating of “Reduce” and an average target of $202.53.
• Despite the selloff, Charter beat quarterly earnings expectations with EPS of $10.66 versus $9.98 forecast and reported $13.53 billion in revenue, though revenue declined 1.7% year over year.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) shares traded down 5.4% during trading on Wednesday. The company traded as low as $105.22 and last traded at $104.1030. Approximately 653,123 shares were traded during trading, a decline of 77% from the average daily volume of 2,794,902 shares. The stock had previously closed at $110.03.

Analyst Ratings Changes

Several research firms have recently issued reports on CHTR. Sanford C. Bernstein reissued a "market perform" rating and set a $150.00 target price on shares of Charter Communications in a research note on Monday, July 27th. Bank of America reaffirmed a "buy" rating on shares of Charter Communications in a research note on Monday, July 27th. JPMorgan Chase & Co. cut their price target on shares of Charter Communications from $200.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Wells Fargo & Company reduced their price objective on shares of Charter Communications from $160.00 to $101.00 and set an "underweight" rating on the stock in a research report on Monday, July 27th. Finally, Royal Bank Of Canada decreased their price objective on shares of Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $202.53.

Charter Communications Stock Performance

The company has a 50-day simple moving average of $131.12 and a two-hundred day simple moving average of $147.85. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $12.66 billion, a P/E ratio of 2.75, a PEG ratio of 0.23 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, beating analysts' consensus estimates of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The company had revenue of $13.53 billion during the quarter, compared to analysts' expectations of $13.51 billion. During the same quarter last year, the business posted $9.18 EPS. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Charter Communications, Inc. will post 42.92 EPS for the current year.

Institutional Trading of Charter Communications

A number of hedge funds have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC purchased a new position in Charter Communications in the 1st quarter worth about $25,000. Trust Co. of Vermont bought a new stake in shares of Charter Communications in the second quarter worth approximately $28,000. MCF Advisors LLC grew its stake in shares of Charter Communications by 106.5% in the second quarter. MCF Advisors LLC now owns 223 shares of the company's stock worth $32,000 after acquiring an additional 115 shares during the period. Raiffeisen Bank International AG raised its holdings in shares of Charter Communications by 259.7% during the second quarter. Raiffeisen Bank International AG now owns 223 shares of the company's stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. Finally, Clark Wealth Partners raised its holdings in shares of Charter Communications by 12,775.0% during the third quarter. Clark Wealth Partners now owns 515 shares of the company's stock valued at $57,000 after purchasing an additional 511 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.