Charter Communications (NASDAQ:CHTR) Hits New 12-Month Low – Should You Sell?

Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week low on Monday. The company traded as low as $101.11 and last traded at $102.18, with a volume of 2,393,308 shares trading hands. The stock had previously closed at $108.61.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CHTR shares. Bank of America reaffirmed a “buy” rating on shares of Charter Communications in a research note on Monday, July 27th. Morgan Stanley dropped their price target on shares of Charter Communications from $150.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, September 25th. Citigroup cut their price objective on Charter Communications from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Royal Bank Of Canada reduced their price objective on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. decreased their target price on Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $202.53.

Charter Communications Stock Down 5.9%

The business’s fifty day moving average price is $128.45 and its 200 day moving average price is $145.51. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 2.65, a PEG ratio of 0.23 and a beta of 0.70. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. The company had revenue of $13.53 billion during the quarter, compared to analysts’ expectations of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $9.18 EPS. On average, equities analysts expect that Charter Communications, Inc. will post 42.92 EPS for the current year.

Hedge Funds Weigh In On Charter Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Charter Communications by 28.4% in the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock worth $157,961,000 after acquiring an additional 161,888 shares during the period. State of Michigan Retirement System raised its holdings in Charter Communications by 1,547.4% during the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after purchasing an additional 405,385 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Charter Communications by 443.8% during the third quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock worth $46,565,000 after purchasing an additional 342,668 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Charter Communications by 562.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 328,457 shares of the company’s stock worth $36,426,000 after purchasing an additional 278,898 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Charter Communications by 79.2% in the first quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock valued at $54,078,000 after purchasing an additional 110,684 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

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.