Charter Communications (NASDAQ:CHTR) Stock Price Down 4.6% - Here's What Happened

Key Points

• Charter Communications shares fell 4.6% in mid-day trading to roughly $104.57, with trading volume 51% below the average daily level.
• Analyst sentiment remains cautious: Charter has a consensus rating of “Reduce”, with five Buy, ten Hold, and seven Sell ratings. Barclays and RBC recently lowered their price targets.
• The company beat quarterly earnings expectations, reporting $10.66 in EPS versus the $9.98 consensus and $13.53 billion in revenue, though revenue declined 1.7% year over year.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report)'s stock price dropped 4.6% during mid-day trading on Friday. The company traded as low as $105.14 and last traded at $104.5720. 1,370,738 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 2,791,893 shares. The stock had previously closed at $109.67.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHTR. Barclays reduced their price target on Charter Communications from $130.00 to $115.00 and set an "underweight" rating for the company in a report on Monday, July 27th. Benchmark reaffirmed 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 note on Monday, July 27th. Royal Bank Of Canada decreased their price target on Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a research note on Monday, July 27th. Finally, Weiss Ratings downgraded Charter Communications from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of "Reduce" and an average price target of $202.53.

Charter Communications Stock Down 6.2%

The stock has a market capitalization of $12.27 billion, a P/E ratio of 2.67, a price-to-earnings-growth ratio of 0.22 and a beta of 0.70. The firm has a 50 day moving average of $138.32 and a 200-day moving average of $154.09. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued 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 net margin of 9.05% and a return on equity of 23.71%. The company had revenue of $13.53 billion for the quarter, compared to the consensus estimate of $13.51 billion. During the same quarter in the previous year, the company earned $9.18 EPS. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities research analysts expect that Charter Communications, Inc. will post 42.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Several hedge funds have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC acquired a new position in shares of Charter Communications in the first quarter valued at approximately $25,000. Manchester Capital Management LLC lifted its holdings in Charter Communications by 1,600.0% during the fourth quarter. Manchester Capital Management LLC now owns 187 shares of the company's stock worth $39,000 after acquiring an additional 176 shares during the period. Trust Co. of Vermont purchased a new stake in Charter Communications in the second quarter worth $28,000. Raiffeisen Bank International AG lifted its position 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 worth $33,000 after acquiring an additional 161 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings 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 purchasing an additional 115 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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