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

Charter Communications, Inc. (NASDAQ:CHTR)’s share price reached a new 52-week low on Thursday . The stock traded as low as $244.19 and last traded at $244.94, with a volume of 2257951 shares trading hands. The stock had previously closed at $252.52.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Arete Research upgraded shares of Charter Communications to a “strong sell” rating in a research note on Tuesday, July 8th. Wells Fargo & Company assumed coverage on shares of Charter Communications in a research note on Thursday, August 21st. They issued an “equal weight” rating and a $300.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $370.00 to $325.00 and set a “sector perform” rating on the stock in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charter Communications from $370.00 to $325.00 and set a “hold” rating on the stock in a research note on Monday, October 6th. Finally, Sanford C. Bernstein dropped their price target on shares of Charter Communications from $380.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 10th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $373.71.

Charter Communications Trading Down 3.0%

The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The business’s fifty day simple moving average is $265.63 and its two-hundred day simple moving average is $333.21. The stock has a market capitalization of $33.46 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.58 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). The business had revenue of $13.77 billion for the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.Charter Communications’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $8.49 earnings per share. As a group, analysts forecast that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Insider Activity

In related news, CEO Christopher L. Winfrey acquired 3,670 shares of the stock in a transaction on Thursday, July 31st. The stock was purchased at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the transaction, the chief executive officer owned 70,243 shares of the company’s stock, valued at $19,183,363.30. The trade was a 5.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Balan Nair acquired 360 shares of the stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $274.21 per share, with a total value of $98,715.60. Following the transaction, the director directly owned 9,622 shares in the company, valued at approximately $2,638,448.62. This represents a 3.89% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.83% of the company’s stock.

Institutional Investors Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHTR. Norges Bank acquired a new stake in shares of Charter Communications during the 2nd quarter worth approximately $1,145,387,000. JPMorgan Chase & Co. grew its position in shares of Charter Communications by 53.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company’s stock worth $851,331,000 after buying an additional 806,145 shares during the period. Allianz Asset Management GmbH grew its position in shares of Charter Communications by 48.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company’s stock worth $304,674,000 after buying an additional 244,324 shares during the period. Lind Value II ApS acquired a new stake in shares of Charter Communications during the 3rd quarter worth approximately $60,646,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Charter Communications by 15.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,575,818 shares of the company’s stock worth $644,210,000 after buying an additional 209,869 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.