Charter Communications (NASDAQ:CHTR) Sets New 52-Week Low – Here’s What Happened

by · The Cerbat Gem

Charter Communications, Inc. (NASDAQ:CHTR – Get Free Report)’s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $101.63 and last traded at $102.5870, with a volume of 144,811 shares trading hands. The stock had previously closed at $103.38.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Sanford C. Bernstein reissued a “market perform” rating and issued a $150.00 price target on shares of Charter Communications in a report on Monday, July 27th. The Goldman Sachs Group reduced their price target on shares of Charter Communications from $120.00 to $110.00 and set a “sell” rating for the company in a research report on Friday, September 25th. Wells Fargo & Company lowered their price objective on Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a research report on Monday, July 27th. Finally, BNP Paribas Exane dropped their price objective on Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $202.53.

Check Out Our Latest Stock Report on CHTR

Charter Communications Price Performance

The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $12.76 billion, a P/E ratio of 2.78, a price-to-earnings-growth ratio of 0.22 and a beta of 0.70. The firm has a 50-day moving average price of $135.73 and a 200 day moving average price of $151.70.

Charter Communications (NASDAQ:CHTR – Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts’ consensus estimates of $9.98 by $0.68. The company had revenue of $13.53 billion for 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%. Charter Communications’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $9.18 EPS. On average, analysts expect that Charter Communications, Inc. will post 42.92 EPS for the current year.

Institutional Investors Weigh In On Charter Communications

Hedge funds have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC bought a new position in shares of Charter Communications during the first quarter valued at about $25,000. Trust Co. of Vermont purchased a new stake in shares of Charter Communications during the second quarter worth about $28,000. Raiffeisen Bank International AG grew its stake in shares of Charter Communications by 259.7% in the second quarter. Raiffeisen Bank International AG now owns 223 shares of the company’s stock worth $33,000 after purchasing an additional 161 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Charter Communications by 106.5% in the second quarter. MCF Advisors LLC now owns 223 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Finally, Weitz Investment Management Inc. bought a new stake in shares of Charter Communications in the second quarter worth about $92,000. 81.76% of the stock is currently owned by institutional investors.

About Charter Communications

(Get Free Report)

Charter Communications, Inc is a telecommunications and media company that provides broadband connectivity and related communications services in the United States. Its consumer-facing operations are marketed primarily under the Spectrum brand and include high-speed internet, video entertainment, mobile wireless service and voice communications.

Charter also serves businesses and public-sector organizations with internet access, data networking, telephone, video and managed communications solutions.

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