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

Zacks Research lowered shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks reports.

Several other equities analysts have also recently weighed in on CHTR. The Goldman Sachs Group dropped their price target on shares of Charter Communications from $120.00 to $110.00 and set a “sell” rating on the stock in a research report on Friday, September 25th. BNP Paribas Exane decreased their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, July 14th. Morgan Stanley lowered their price objective on 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. Sanford C. Bernstein restated a “market perform” rating and issued a $150.00 target price on shares of Charter Communications in a report on Monday, July 27th. Finally, Wells Fargo & Company lifted their target price on Charter Communications from $101.00 to $103.00 and gave the company an “underweight” rating in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Charter Communications presently has a consensus rating of “Reduce” and a consensus target price of $193.41.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR opened at $136.31 on Tuesday. The business’s fifty day moving average price is $119.72 and its two-hundred day moving average price is $162.43. Charter Communications has a fifty-two week low of $101.11 and a fifty-two week high of $254.11. The stock has a market capitalization of $16.26 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.71 and a beta of 0.73. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.37 and a quick ratio of 0.36.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, November 6th. The company reported ($20.50) earnings per share for the quarter, missing the consensus estimate of $8.94 by ($29.44). The company had revenue of $14.92 billion during the quarter, compared to analyst estimates of $13.50 billion. Charter Communications had a net margin of 2.50% and a return on equity of 27.11%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $8.34 EPS. As a group, analysts predict that Charter Communications will post 35.30 EPS for the current fiscal year.

Institutional Trading of Charter Communications

Several large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. raised its stake in Charter Communications by 3,624.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 60,224 shares of the company’s stock valued at $6,679,000 after buying an additional 58,607 shares during the last quarter. Krilogy Financial LLC lifted its stake in shares of Charter Communications by 278.6% during the third quarter. Krilogy Financial LLC now owns 21,293 shares of the company’s stock worth $2,361,000 after buying an additional 15,669 shares during the period. Polianta Ltd purchased a new stake in shares of Charter Communications during the second quarter valued at $1,777,000. Quantinno Capital Management LP increased its position in shares of Charter Communications by 54.3% in the 1st quarter. Quantinno Capital Management LP now owns 45,828 shares of the company’s stock valued at $9,893,000 after acquiring an additional 16,118 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Charter Communications in the second quarter valued at approximately $3,637,000. 81.76% of the stock is owned by institutional investors.

Top Charter Communications Stories

Here are a few of the latest stories about CHTR:

• Positive Sentiment: Charter subsidiaries launched cash tender offers for eight note series, with up to $1.5 billion in aggregate consideration. The announcement was associated with a sharp stock rally, suggesting investors welcomed the debt-management move. Charter Announces Tender Offers for Eight Series of Notes
• Neutral Sentiment: Morgan Stanley and Bernstein reiterated Hold ratings, signaling neither a strong endorsement nor a new bearish shift. Morgan Stanley Hold rating Bernstein Hold rating
• Negative Sentiment: A separate earnings-call analysis characterized Charter’s growth reset as costly, raising concerns about the expense of its strategy. Earnings call analysis

About Charter Communications

Charter Communications, Inc. provides broadband, video, voice and mobile services in the United States, primarily under its Spectrum brand. Its residential offerings include high-speed internet, television and home phone services, while its business services include connectivity, communications and managed solutions for organizations. The company also offers Spectrum Mobile, a wireless service that complements its broadband business. Charter serves customers across a broad U.S. footprint, including communities where it provides services over its cable network.