Charter Communications’ (CHTR) “Underweight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their underweight rating on shares of Charter Communications (NASDAQ:CHTR) in a report released on Tuesday, Marketbeat reports. Wells Fargo & Company currently has a $180.00 price target on the stock, down from their prior price target of $240.00.

CHTR has been the subject of several other research reports. BNP Paribas Exane cut their price target on Charter Communications from $255.00 to $200.00 and set an “underperform” rating for the company in a research note on Tuesday, November 4th. Barclays lowered their price objective on shares of Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Bank of America cut their price objective on shares of Charter Communications from $440.00 to $355.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Charter Communications from $325.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of Charter Communications from $215.00 to $210.00 and set a “sell” rating on the stock in a research note on Thursday, December 18th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $314.88.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $194.61 on Tuesday. Charter Communications has a one year low of $193.00 and a one year high of $437.06. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 0.55 and a beta of 1.06. The company has a 50-day simple moving average of $205.31 and a 200-day simple moving average of $260.42. The company has a debt-to-equity ratio of 4.89, a quick ratio of 0.37 and a current ratio of 0.37.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.32). Charter Communications had a net margin of 9.29% and a return on equity of 25.55%. The company had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the firm earned $8.82 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, analysts predict that Charter Communications will post 38.16 EPS for the current year.

Insider Transactions at Charter Communications

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total transaction of $271,416.00. Following the sale, the director directly owned 10,146 shares in the company, valued at approximately $2,294,822.28. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in shares of Charter Communications in the 2nd quarter worth about $25,000. Salem Investment Counselors Inc. raised its position in Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock worth $26,000 after acquiring an additional 61 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Charter Communications in the second quarter valued at about $28,000. Webster Bank N. A. acquired a new stake in shares of Charter Communications in the third quarter valued at approximately $28,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of Charter Communications in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.