Charter Communications Inc. (NASDAQ:CHTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Charter Communications is facing competition from online video streaming services as they provide an extremely cheap source of TV programming. In the last ten years, the over the top business model is gaining momentum, threatening the pay TV model. Additionally, Charter Communications faces competition from telecom operators and other cable MSO's in the high growth Ethernet market. Moreover the company has a highly leveraged balance sheet. However, the recent merger with Time Warner Cable and Brighthouse Networks, will strengthen its foothold in hybrid fiber coax (HFC) and fiber networks. This should also help Charter Communications better address small and medium-sized business (SMB) and large businesses. The company’s residential and commercial internet and voice customer growth continues to accelerate.”

A number of other brokerages have also recently weighed in on CHTR. Pivotal Research boosted their price objective on shares of Charter Communications from $333.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Macquarie boosted their price objective on shares of Charter Communications from $286.00 to $289.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 28th. Citigroup Inc. boosted their price objective on shares of Charter Communications from $270.00 to $318.00 and gave the stock a “buy” rating in a research note on Friday, September 30th. Moffett Nathanson upgraded shares of Charter Communications from a “neutral” rating to a “buy” rating in a research note on Thursday, November 10th. Finally, Morgan Stanley restated a “buy” rating and issued a $300.00 price objective on shares of Charter Communications in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $289.97.

Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

Charter Communications (NASDAQ:CHTR) traded down 0.47% on Wednesday, hitting $271.74. 519,171 shares of the stock traded hands. Charter Communications has a 12-month low of $156.13 and a 12-month high of $281.36. The firm has a market cap of $73.55 billion, a price-to-earnings ratio of 16.16 and a beta of 0.93. The stock has a 50-day moving average of $259.69 and a 200-day moving average of $245.99.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.10. Charter Communications had a return on equity of 0.62% and a net margin of 13.87%. The firm earned $10.04 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Charter Communications’s quarterly revenue was up 309.7% compared to the same quarter last year. Analysts forecast that Charter Communications will post $0.60 earnings per share for the current year.

A number of large investors have recently modified their holdings of CHTR. Prudential Financial Inc. raised its stake in shares of Charter Communications by 12.2% in the first quarter. Prudential Financial Inc. now owns 6,430 shares of the company’s stock worth $1,302,000 after buying an additional 700 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Charter Communications by 858.0% in the second quarter. BNP Paribas Arbitrage SA now owns 210,584 shares of the company’s stock worth $48,148,000 after buying an additional 188,602 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Charter Communications during the second quarter worth approximately $231,000. Baxter Bros Inc. bought a new stake in shares of Charter Communications during the second quarter worth approximately $1,474,000. Finally, CKW Financial Group bought a new stake in shares of Charter Communications during the second quarter worth approximately $103,000. 77.88% of the stock is currently owned by hedge funds and other institutional investors.

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About Charter Communications

Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.

5 Day Chart for NASDAQ:CHTR

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