Charter Communications, Inc. (NASDAQ:CHTR) Given Average Recommendation of “Reduce” by Brokerages

Shares of Charter Communications, Inc. (NASDAQ:CHTR) have been assigned a consensus rating of “Reduce” from the twenty ratings firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $290.3750.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on Charter Communications in a report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 target price on the stock. New Street Research lowered their target price on Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $210.00 target price on shares of Charter Communications in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a report on Friday, March 27th. Finally, BNP Paribas Exane lowered their target price on Charter Communications from $160.00 to $150.00 and set an “underperform” rating on the stock in a report on Tuesday, February 24th.

Charter Communications Stock Performance

CHTR opened at $140.27 on Wednesday. The firm has a market capitalization of $17.25 billion, a P/E ratio of 3.79, a price-to-earnings-growth ratio of 0.25 and a beta of 0.71. The stock’s 50 day moving average price is $188.22 and its two-hundred day moving average price is $203.39. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications has a 12-month low of $136.63 and a 12-month high of $422.29.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business earned $8.42 EPS. On average, equities analysts forecast that Charter Communications will post 43 earnings per share for the current year.

Insider Activity at Charter Communications

In other news, Director Thomas Rutledge sold 18,200 shares of Charter Communications stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the sale, the director owned 3,968 shares of the company’s stock, valued at approximately $583,057.92. This trade represents a 82.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were purchased at an average cost of $172.23 per share, for a total transaction of $597,293.64. Following the acquisition, the chief executive officer directly owned 74,409 shares in the company, valued at $12,815,462.07. This represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 20,125 shares of company stock worth $3,167,116 in the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Charter Communications

Several institutional investors have recently modified their holdings of CHTR. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Charter Communications during the 1st quarter worth approximately $25,000. Quarry LP grew its holdings in shares of Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Charter Communications during the 4th quarter worth approximately $25,000. DV Equities LLC acquired a new stake in shares of Charter Communications during the 4th quarter worth approximately $25,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Company Profile

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.