Wolfe Research Lowers Charter Communications (NASDAQ:CHTR) to Underperform

Wolfe Research lowered shares of Charter Communications (NASDAQ:CHTR) from a peer perform rating to an underperform rating in a research note released on Monday, Marketbeat reports. They currently have $300.00 price objective on the stock.

A number of other analysts have also recently issued reports on CHTR. Barclays lifted their price objective on Charter Communications from $250.00 to $300.00 and gave the company an underweight rating in a research report on Monday, July 29th. Pivotal Research lifted their price objective on Charter Communications from $400.00 to $435.00 and gave the company a buy rating in a research report on Monday, July 29th. Royal Bank of Canada assumed coverage on Charter Communications in a research report on Thursday, September 19th. They set a sector perform rating and a $345.00 price objective for the company. The Goldman Sachs Group assumed coverage on Charter Communications in a research note on Monday, July 1st. They set a sell rating and a $250.00 price target for the company. Finally, TD Cowen upped their price target on Charter Communications from $488.00 to $525.00 and gave the stock a buy rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Charter Communications currently has an average rating of Hold and a consensus target price of $356.41.

Charter Communications Stock Performance

Shares of CHTR stock opened at $329.24 on Monday. Charter Communications has a 1-year low of $236.08 and a 1-year high of $458.30. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84. The company has a market capitalization of $47.42 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.61 and a beta of 1.05. The stock’s fifty day simple moving average is $345.31 and its 200-day simple moving average is $304.23.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The business had revenue of $13.69 billion for the quarter, compared to the consensus estimate of $13.59 billion. During the same quarter in the previous year, the company posted $8.05 earnings per share. Charter Communications’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Charter Communications will post 32.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Large investors have recently added to or reduced their stakes in the company. CVA Family Office LLC raised its holdings in Charter Communications by 5,500.0% in the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after acquiring an additional 110 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Charter Communications in the 1st quarter worth approximately $34,000. Riverview Trust Co acquired a new position in shares of Charter Communications in the 1st quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Charter Communications by 109.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock worth $48,000 after buying an additional 83 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Charter Communications in the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Company Profile

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.