Charter Communications (NASDAQ:CHTR) Shares Down 4.4%

Charter Communications, Inc. (NASDAQ:CHTR) was down 4.4% on Wednesday . The company traded as low as $330.55 and last traded at $331.12. Approximately 951,011 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 1,399,036 shares. The stock had previously closed at $346.42.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several analyst reports. Wolfe Research downgraded shares of Charter Communications from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 31st. TD Cowen upped their price target on shares of Charter Communications from $488.00 to $525.00 and gave the company a “buy” rating in a report on Monday, July 29th. Pivotal Research upped their price target on shares of Charter Communications from $400.00 to $435.00 and gave the company a “buy” rating in a report on Monday, July 29th. Morgan Stanley upped their price target on shares of Charter Communications from $330.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Barclays upped their price target on shares of Charter Communications from $250.00 to $300.00 and gave the company an “underweight” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $360.93.

Charter Communications Trading Down 1.0 %

The stock has a market cap of $47.16 billion, a P/E ratio of 10.70, a PEG ratio of 0.64 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 0.39. The business’s 50 day simple moving average is $337.41 and its 200 day simple moving average is $298.99.

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

Institutional Trading of Charter Communications

Several hedge funds have recently modified their holdings of the company. CVA Family Office LLC increased its holdings in shares of Charter Communications by 5,500.0% in the second quarter. CVA Family Office LLC now owns 112 shares of the company’s stock valued at $33,000 after purchasing an additional 110 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Charter Communications in the first quarter valued at approximately $34,000. Riverview Trust Co acquired a new stake in shares of Charter Communications in the first quarter valued at approximately $40,000. Cullen Frost Bankers Inc. increased its holdings in shares of Charter Communications by 769.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Charter Communications by 109.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock valued at $48,000 after purchasing an additional 83 shares in the last quarter. Institutional investors and hedge funds 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.