Charter Communications (NASDAQ:CHTR) Reaches New 1-Year Low – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $196.25 and last traded at $195.9810, with a volume of 486110 shares changing hands. The stock had previously closed at $200.69.

Analysts Set New Price Targets

CHTR has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a report on Monday, November 3rd. Barclays reduced their target price on Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada lowered their price target on Charter Communications from $325.00 to $265.00 and set a “sector perform” rating for the company in a report on Monday, November 3rd. Bank of America decreased their target price on Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charter Communications has an average rating of “Reduce” and an average target price of $329.56.

Charter Communications Price Performance

The company has a 50 day moving average price of $249.29 and a 200-day moving average price of $316.16. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 5.31, a P/E/G ratio of 0.55 and a beta of 1.05. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). The business had revenue of $13.67 billion for the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.82 earnings per share. As a group, equities research analysts predict that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insider Activity at Charter Communications

In other news, Director David C. Merritt sold 1,200 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total value of $271,416.00. Following the completion of the sale, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

A number of hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd increased its position in shares of Charter Communications by 113.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 8,031 shares of the company’s stock valued at $3,283,000 after purchasing an additional 4,273 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Charter Communications by 11.8% during the second quarter. Los Angeles Capital Management LLC now owns 38,041 shares of the company’s stock worth $15,552,000 after buying an additional 4,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Charter Communications by 25.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,691 shares of the company’s stock worth $6,028,000 after acquiring an additional 2,990 shares during the period. Nisa Investment Advisors LLC boosted its stake in Charter Communications by 8.5% in the second quarter. Nisa Investment Advisors LLC now owns 32,745 shares of the company’s stock valued at $13,386,000 after acquiring an additional 2,560 shares during the last quarter. Finally, First Pacific Advisors LP increased its stake in shares of Charter Communications by 1.2% during the 2nd quarter. First Pacific Advisors LP now owns 626,508 shares of the company’s stock worth $256,123,000 after purchasing an additional 7,499 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.