Charter Communications (NASDAQ:CHTR) Hits New 12-Month Low After Earnings Miss

Charter Communications, Inc. (NASDAQ:CHTR)’s share price hit a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $236.08 and last traded at $251.78, with a volume of 639169 shares. The stock had previously closed at $259.10.

The company reported $7.55 EPS for the quarter, missing the consensus estimate of $7.78 by ($0.23). Charter Communications had a return on equity of 32.32% and a net margin of 8.35%. The company had revenue of $13.68 billion for the quarter, compared to analysts’ expectations of $13.75 billion. During the same quarter in the prior year, the firm earned $6.65 EPS. The firm’s revenue was up .2% on a year-over-year basis.

Analyst Ratings Changes

CHTR has been the topic of several research analyst reports. Rosenblatt Securities reduced their price objective on shares of Charter Communications from $334.00 to $297.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on Charter Communications from $375.00 to $320.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Benchmark lowered their price target on Charter Communications from $490.00 to $440.00 and set a “buy” rating for the company in a report on Monday, February 5th. Barclays lowered their price target on Charter Communications from $280.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, April 2nd. Finally, UBS Group lowered their price target on Charter Communications from $360.00 to $325.00 and set a “neutral” rating for the company in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $380.80.

Institutional Investors Weigh In On Charter Communications

Large investors have recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Charter Communications by 12.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 16,629 shares of the company’s stock worth $4,833,000 after acquiring an additional 1,800 shares in the last quarter. California First Leasing Corp raised its position in Charter Communications by 7.3% in the first quarter. California First Leasing Corp now owns 12,640 shares of the company’s stock worth $3,674,000 after acquiring an additional 863 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Charter Communications by 2.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,944 shares of the company’s stock worth $1,437,000 after acquiring an additional 133 shares in the last quarter. CENTRAL TRUST Co raised its position in Charter Communications by 9.3% in the first quarter. CENTRAL TRUST Co now owns 2,666 shares of the company’s stock worth $775,000 after acquiring an additional 226 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in Charter Communications by 86.4% in the first quarter. V Square Quantitative Management LLC now owns 880 shares of the company’s stock worth $256,000 after acquiring an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Price Performance

The company has a debt-to-equity ratio of 6.51, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market cap of $37.09 billion, a PE ratio of 8.63, a PEG ratio of 0.46 and a beta of 0.96. The company has a 50-day simple moving average of $281.92 and a 200-day simple moving average of $349.44.

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.