Charter Communications (NASDAQ:CHTR) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on CHTR. The Goldman Sachs Group decreased their target price on Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research report on Thursday, July 2nd. Citigroup cut their price target on Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Sanford C. Bernstein restated a “market perform” rating and set a $210.00 price objective on shares of Charter Communications in a report on Tuesday, May 26th. Benchmark lowered their target price on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Bank of America cut their target price on Charter Communications from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $260.06.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $138.02 on Monday. 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 twelve month low of $124.05 and a twelve month high of $413.14. The company has a fifty day moving average of $142.80 and a 200-day moving average of $190.95. The firm has a market capitalization of $16.97 billion, a P/E ratio of 3.73, a P/E/G ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the previous year, the business posted $8.42 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charter Communications will post 42.28 EPS for the current year.

Insider Transactions at Charter Communications

In related news, Director Thomas Rutledge sold 18,200 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the transaction, the director directly owned 3,968 shares in the company, valued at approximately $583,057.92. The trade was a 82.10% 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. Also, CEO Christopher L. Winfrey acquired 3,468 shares of Charter Communications stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $172.23 per share, with a total value of $597,293.64. Following the completion of the transaction, 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 disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Charter Communications

Several institutional investors have recently modified their holdings of CHTR. Advisory Services Network LLC boosted its holdings in shares of Charter Communications by 3.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,028 shares of the company’s stock worth $420,000 after buying an additional 38 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in Charter Communications by 1.7% in the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company’s stock worth $988,000 after acquiring an additional 41 shares during the period. Occudo Quantitative Strategies LP boosted its stake in Charter Communications by 1.4% in the second quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company’s stock valued at $1,255,000 after acquiring an additional 41 shares during the last quarter. Pure Financial Advisors LLC increased its stake in shares of Charter Communications by 4.1% during the 4th quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company’s stock worth $233,000 after purchasing an additional 44 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Charter Communications by 3.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company’s stock worth $392,000 after purchasing an additional 49 shares during the last quarter. 81.76% of the stock is owned by institutional investors.

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.