Charter Communications (CHTR) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “Shares of Charter have declined in the past-year primarily due to sluggish growth in a saturated and competitive multi-channel U.S. video market. The company continues to face stiff competition from online TV streaming service providers. We also view the company's high debt level and consolidation-related woes as potential hazards. However, we appreciate the company’s wireless venture, along with plans to offer its wireless service in 2018. The company’s residential and commercial internet and voice customer growth continues to accelerate, evident from the revenue growth and subscriber gain. Meanwhile, the company has mixed record of earnings surprises in recent quarters.”

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CHTR has been the topic of a number of other reports. Cowen started coverage on Charter Communications in a research report on Monday, March 26th. They issued an outperform rating on the stock. Moffett Nathanson upgraded Charter Communications from a neutral rating to a buy rating in a research note on Monday, January 8th. Wells Fargo upgraded Charter Communications from a market perform rating to an outperform rating and raised their target price for the company from $387.50 to $460.00 in a research note on Monday, February 5th. BidaskClub cut Charter Communications from a sell rating to a strong sell rating in a research note on Friday, March 2nd. Finally, Argus restated a buy rating and issued a $450.00 target price on shares of Charter Communications in a research note on Wednesday, February 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Charter Communications currently has an average rating of Hold and a consensus price target of $405.50.

Shares of CHTR stock opened at $310.48 on Tuesday. The company has a market capitalization of $72,961.37, a PE ratio of 117.16, a price-to-earnings-growth ratio of 3.75 and a beta of 1.17. Charter Communications has a fifty-two week low of $298.67 and a fifty-two week high of $408.83. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.23 and a current ratio of 0.23.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, February 2nd. The company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.01. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.60 billion. Charter Communications had a return on equity of 1.11% and a net margin of 23.80%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. research analysts forecast that Charter Communications will post 3.88 earnings per share for the current year.

In other Charter Communications news, EVP Jonathan Hargis sold 27,000 shares of Charter Communications stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $364.76, for a total transaction of $9,848,520.00. Following the completion of the transaction, the executive vice president now owns 34,931 shares in the company, valued at $12,741,431.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in CHTR. Ladenburg Thalmann Financial Services Inc. raised its stake in Charter Communications by 12.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,834 shares of the company’s stock valued at $667,000 after buying an additional 202 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Charter Communications during the third quarter valued at $180,000. AXA raised its stake in Charter Communications by 3.1% during the third quarter. AXA now owns 40,969 shares of the company’s stock valued at $14,889,000 after buying an additional 1,242 shares during the last quarter. Caledonia Investments PLC purchased a new position in Charter Communications during the fourth quarter valued at $13,606,000. Finally, Bank of Montreal Can raised its stake in Charter Communications by 44.0% during the fourth quarter. Bank of Montreal Can now owns 124,760 shares of the company’s stock valued at $41,913,000 after buying an additional 38,118 shares during the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.

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Charter Communications Company Profile

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.

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