Charter Communications (NASDAQ:CHTR) Sets New 1-Year Low – Here’s What Happened

Shares of Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week low on Thursday . The stock traded as low as $126.61 and last traded at $126.2060, with a volume of 3029226 shares traded. The stock had previously closed at $132.00.

Analyst Upgrades and Downgrades

CHTR has been the topic of a number of recent analyst reports. BNP Paribas Exane decreased their target price on Charter Communications from $160.00 to $150.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 24th. Royal Bank Of Canada dropped their target price on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Benchmark reduced their price target on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $210.00 price target on shares of Charter Communications in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. began coverage on shares of Charter Communications in a research report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $290.38.

Charter Communications Trading Down 4.4%

The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 3.41, a PEG ratio of 0.24 and a beta of 0.71. The business has a fifty day simple moving average of $168.66 and a 200-day simple moving average of $197.92.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter last year, the firm posted $8.42 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts forecast that Charter Communications, Inc. will post 43 earnings per share for the current fiscal year.

Insider Buying and Selling at Charter Communications

In other Charter Communications news, Director Mauricio Ramos purchased 9,929 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the purchase, the director owned 19,309 shares of the company’s stock, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wade Davis purchased 5,728 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the acquisition, the director owned 6,925 shares of the company’s stock, valued at $1,203,011. This trade represents a 478.53% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 20,125 shares of company stock worth $3,167,116 over the last quarter. Insiders own 1.10% of the company’s stock.

Institutional Trading of Charter Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gateway Investment Advisers LLC acquired a new position in shares of Charter Communications in the fourth quarter worth approximately $5,911,000. Thompson Siegel & Walmsley LLC increased its position in Charter Communications by 1,804.0% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 102,528 shares of the company’s stock valued at $21,403,000 after purchasing an additional 97,143 shares during the period. First Eagle Investment Management LLC increased its position in Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after purchasing an additional 1,617,148 shares during the period. Norges Bank bought a new position in Charter Communications during the 4th quarter worth approximately $555,383,000. Finally, Swiss Life Asset Management Ltd lifted its position in shares of Charter Communications by 110.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company’s stock worth $6,521,000 after purchasing an additional 16,415 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.