Charter Communications (NASDAQ:CHTR) Rating Lowered to Underperform at Raymond James

Charter Communications (NASDAQ:CHTR) was downgraded by equities researchers at Raymond James from a “market perform” rating to an “underperform” rating in a research report issued on Monday, Marketbeat reports.

Other equities analysts have also recently issued reports about the company. Barclays cut their price target on Charter Communications from $280.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, April 2nd. Wells Fargo & Company lowered their target price on Charter Communications from $290.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Citigroup lowered Charter Communications from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $280.00 to $255.00 in a research report on Wednesday, July 3rd. Loop Capital lowered their target price on Charter Communications from $335.00 to $285.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Finally, Morgan Stanley upped their target price on Charter Communications from $300.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of “Hold” and an average price target of $367.75.

Charter Communications Stock Performance

Shares of CHTR stock opened at $383.07 on Monday. The business’s 50 day simple moving average is $297.11 and its 200 day simple moving average is $295.33. Charter Communications has a one year low of $236.08 and a one year high of $458.30. The stock has a market capitalization of $55.17 billion, a PE ratio of 12.39, a PEG ratio of 1.64 and a beta of 1.04. The company has a debt-to-equity ratio of 5.84, a current ratio of 0.39 and a quick ratio of 0.40.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. The firm had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $8.05 EPS. As a group, research analysts forecast that Charter Communications will post 30.5 earnings per share for the current year.

Institutional Investors Weigh In On Charter Communications

Several large investors have recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new position in Charter Communications during the 4th quarter valued at about $25,000. CVA Family Office LLC grew its holdings in Charter Communications by 5,500.0% during the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after buying an additional 110 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Charter Communications during the 1st quarter valued at about $34,000. Riverview Trust Co purchased a new position in Charter Communications during the 1st quarter valued at about $40,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Charter Communications during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

About Charter Communications

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.