Charter Communications (NASDAQ:CHTR) Stock Falls 5.4% – Here’s Why

Shares of Charter Communications, Inc. (NASDAQ:CHTR) were down 5.4% during trading on Wednesday. The company traded as low as $105.22 and last traded at $104.1030. Approximately 653,123 shares traded hands during trading, a decline of 77% from the average daily volume of 2,794,902 shares. The stock had previously closed at $110.03.

Analyst Ratings Changes

A number of analysts have recently issued reports on CHTR shares. Benchmark reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Wolfe Research reaffirmed an “underperform” rating and set a $118.00 price objective on shares of Charter Communications in a report on Monday, September 14th. Bank of America reiterated a “buy” rating on shares of Charter Communications in a research report on Monday, July 27th. Morgan Stanley cut their target price on Charter Communications from $150.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Finally, UBS Group decreased their price target on Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $202.53.

Charter Communications Stock Down 3.5%

The firm has a market cap of $12.66 billion, a PE ratio of 2.75, a price-to-earnings-growth ratio of 0.23 and a beta of 0.70. The company has a 50-day simple moving average of $131.12 and a 200-day simple moving average of $147.85. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping the consensus estimate of $9.98 by $0.68. The business had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $9.18 earnings per share. Analysts expect that Charter Communications, Inc. will post 42.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC bought a new stake in Charter Communications during the 1st quarter valued at $25,000. Trust Co. of Vermont bought a new position in shares of Charter Communications during the second quarter valued at approximately $28,000. Raiffeisen Bank International AG boosted its stake in shares of Charter Communications by 259.7% during the second quarter. Raiffeisen Bank International AG now owns 223 shares of the company’s stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. MCF Advisors LLC increased its holdings in Charter Communications by 106.5% during the second quarter. MCF Advisors LLC now owns 223 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the period. Finally, Clark Wealth Partners increased its holdings in Charter Communications by 12,775.0% during the third quarter. Clark Wealth Partners now owns 515 shares of the company’s stock valued at $57,000 after buying an additional 511 shares during the period. Institutional investors own 81.76% of the company’s stock.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.