Charter Communications (NASDAQ:CHTR) Downgraded by BidaskClub

BidaskClub lowered shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

A number of other equities research analysts have also recently commented on CHTR. ValuEngine upgraded shares of Charter Communications from a hold rating to a buy rating in a report on Tuesday, May 14th. Rosenblatt Securities restated a buy rating and set a $480.00 price objective on shares of Charter Communications in a research report on Monday, July 29th. Credit Suisse Group increased their price objective on shares of Charter Communications from $370.00 to $400.00 and gave the company a neutral rating in a research report on Monday, July 29th. Citigroup assumed coverage on shares of Charter Communications in a research report on Thursday, June 13th. They set a buy rating and a $480.00 price objective on the stock. Finally, Bank of America restated a buy rating and set a $450.00 price objective (up previously from $425.00) on shares of Charter Communications in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $415.71.

Shares of NASDAQ:CHTR traded up $0.28 during trading on Wednesday, reaching $384.66. 1,356,353 shares of the stock traded hands, compared to its average volume of 893,415. The firm’s 50-day moving average price is $400.31. Charter Communications has a 52-week low of $272.91 and a 52-week high of $417.13. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.31 and a current ratio of 0.34. The company has a market capitalization of $86.10 billion, a PE ratio of 73.69, a P/E/G ratio of 1.33 and a beta of 1.23.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 26th. The company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.79 by ($0.40). Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The firm had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts predict that Charter Communications will post 6.91 earnings per share for the current year.

In other Charter Communications news, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total value of $389,780.00. Following the transaction, the director now directly owns 11,773 shares in the company, valued at $4,588,879.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lance Conn sold 927 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total transaction of $370,800.00. Following the completion of the transaction, the director now owns 9,552 shares in the company, valued at $3,820,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,252 shares of company stock worth $1,257,694. 0.84% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Dedication LLC raised its position in shares of Charter Communications by 5.5% during the 1st quarter. Asset Dedication LLC now owns 534 shares of the company’s stock valued at $183,000 after purchasing an additional 28 shares during the period. Lindbrook Capital LLC raised its position in shares of Charter Communications by 8.6% during the 1st quarter. Lindbrook Capital LLC now owns 353 shares of the company’s stock valued at $122,000 after purchasing an additional 28 shares during the period. Connable Office Inc. raised its position in shares of Charter Communications by 0.7% during the 1st quarter. Connable Office Inc. now owns 4,426 shares of the company’s stock valued at $1,535,000 after purchasing an additional 30 shares during the period. Whitener Capital Management Inc. raised its position in shares of Charter Communications by 16.8% during the 2nd quarter. Whitener Capital Management Inc. now owns 209 shares of the company’s stock valued at $82,000 after purchasing an additional 30 shares during the period. Finally, Huntington National Bank raised its position in shares of Charter Communications by 31.1% during the 1st quarter. Huntington National Bank now owns 135 shares of the company’s stock valued at $47,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 71.92% of the company’s stock.

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, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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