Zacks Investment Research Upgrades Charter Communications, Inc. (CHTR) to Hold

Zacks Investment Research upgraded shares of Charter Communications, Inc. (NASDAQ:CHTR) from a sell rating to a hold rating in a research note published on Friday morning.

According to Zacks, “We appreciate Charter's plans to execute field trials for 5G wireless network and plans to launch its wireless services in 2018. The wireless venture is aimed at retaining customers in this competitive world. The twin buyout of Time Warner Cable and Bright House Networks boost the company's fiber suite, bottom line and free cash flow. The company’s commercial segment is faring well evident from the revenue growth. However, Charter posted weak third-quarter 2017 financial results, with the loss of 1,04,000 video customers due to cord-cutting. Notably, online video streaming service providers pose severe threat to cable TV operators due to cheap source of TV programming. We are concerned about the company’s operation in a saturated and competitive multi-channel U.S. video market. Meanwhile, we view the high debt levels as a hazard. Over the past three months, the stock declined 13.5% while the industry declined 12.3%.”

A number of other analysts also recently commented on the company. Telsey Advisory Group downgraded Charter Communications from an outperform rating to a market perform rating and decreased their price target for the company from $450.00 to $340.00 in a research report on Tuesday, September 5th. Morgan Stanley increased their price target on Charter Communications from $350.00 to $365.00 and gave the company an overweight rating in a research report on Monday, July 17th. Barclays PLC decreased their price target on Charter Communications from $354.00 to $283.00 and set an equal weight rating for the company in a research report on Friday, October 27th. Wells Fargo & Company reaffirmed a market perform rating and set a $372.00 price target (up from $330.00) on shares of Charter Communications in a research report on Sunday, July 30th. Finally, Evercore ISI increased their price target on Charter Communications from $360.00 to $438.00 and gave the company an outperform rating in a research report on Friday, September 15th. Thirteen analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $378.12.

Shares of Charter Communications (CHTR) traded up $5.28 during trading on Friday, hitting $343.72. The stock had a trading volume of 908,900 shares, compared to its average volume of 1,677,378. The stock has a market capitalization of $84,139.57, a P/E ratio of 210.21, a PEG ratio of 5.26 and a beta of 1.09. Charter Communications has a 12-month low of $258.63 and a 12-month high of $408.83. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.55.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.77). The company had revenue of $10.46 billion during the quarter, compared to analysts’ expectations of $10.49 billion. Charter Communications had a return on equity of 0.91% and a net margin of 1.93%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. equities analysts expect that Charter Communications will post 2.77 EPS for the current fiscal year.

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In related news, CFO Christopher L. Winfrey purchased 3,100 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was purchased at an average cost of $323.61 per share, with a total value of $1,003,191.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,916 shares of the company’s stock, valued at $16,153,316.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.56% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Charter Communications by 2.4% in the second quarter. Vanguard Group Inc. now owns 13,814,543 shares of the company’s stock worth $4,653,428,000 after acquiring an additional 321,938 shares during the period. BlackRock Inc. boosted its holdings in shares of Charter Communications by 4.1% in the second quarter. BlackRock Inc. now owns 12,709,709 shares of the company’s stock worth $4,281,266,000 after acquiring an additional 496,574 shares during the period. Capital World Investors boosted its holdings in shares of Charter Communications by 4.1% in the second quarter. Capital World Investors now owns 10,215,326 shares of the company’s stock worth $3,441,033,000 after acquiring an additional 402,167 shares during the period. Veritas Asset Management LLP boosted its holdings in shares of Charter Communications by 7.4% in the second quarter. Veritas Asset Management LLP now owns 3,845,110 shares of the company’s stock worth $1,295,225,000 after acquiring an additional 263,674 shares during the period. Finally, Jennison Associates LLC boosted its stake in Charter Communications by 10.1% during the second quarter. Jennison Associates LLC now owns 3,628,569 shares of the company’s stock valued at $1,222,283,000 after buying an additional 331,597 shares during the period. 76.36% of the stock is owned by hedge funds and other institutional investors.

About Charter Communications

Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.

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