Charter Communications (NASDAQ:CHTR) Upgraded to Strong Sell at Arete Research

by · The Markets Daily

Arete Research upgraded shares of Charter Communications (NASDAQ:CHTR – Free Report) to a strong sell rating in a research note issued to investors on Thursday morning,Zacks reports.

A number of other brokerages also recently weighed in on CHTR. UBS Group cut their price target on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Morgan Stanley lowered their target price on shares of 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. Citigroup cut their target price on shares of Charter Communications from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. JPMorgan Chase & Co. reduced their price target on shares of Charter Communications from $200.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Benchmark reissued a “buy” rating on shares of Charter Communications in a report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $215.17.

Read Our Latest Stock Analysis on Charter Communications

Charter Communications Stock Up 0.4%

Shares of Charter Communications stock opened at $111.37 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. Charter Communications has a 12 month low of $108.65 and a 12 month high of $284.60. The business has a fifty day simple moving average of $141.11 and a 200 day simple moving average of $157.84. The stock has a market cap of $13.28 billion, a PE ratio of 2.89, a price-to-earnings-growth ratio of 0.23 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR – Get Free Report) last released its earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating the consensus estimate of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The firm had revenue of $13.53 billion for the quarter, compared to analyst estimates of $13.51 billion. During the same quarter in the prior year, the firm posted $9.18 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Research analysts predict that Charter Communications will post 42.72 EPS for the current year.

Institutional Investors Weigh In On Charter Communications

Large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its position in Charter Communications by 10.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,745 shares of the company’s stock valued at $675,000 after acquiring an additional 463 shares in the last quarter. Tidal Investments LLC increased its holdings in Charter Communications by 737.5% during the 2nd quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock worth $34,344,000 after purchasing an additional 212,668 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Charter Communications by 106.5% in the 2nd quarter. MCF Advisors LLC now owns 223 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Engineers Gate Manager LP raised its stake in shares of Charter Communications by 569.0% in the 2nd quarter. Engineers Gate Manager LP now owns 13,407 shares of the company’s stock valued at $1,907,000 after purchasing an additional 11,403 shares during the period. Finally, Cidel Asset Management Inc. lifted its holdings in shares of Charter Communications by 36.3% in the second quarter. Cidel Asset Management Inc. now owns 5,076 shares of the company’s stock valued at $722,000 after purchasing an additional 1,351 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

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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