Charter Communications (NASDAQ:CHTR) Shares Down 5.4% – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR) shares traded down 5.4% during trading on Wednesday. The stock traded as low as $105.22 and last traded at $104.1030. 653,123 shares changed hands during trading, a decline of 77% from the average session volume of 2,794,902 shares. The stock had previously closed at $110.03.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price on Charter Communications from $120.00 to $110.00 and set a “sell” rating on the stock in a research note on Friday, September 25th. Zacks Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $150.00 price target on shares of Charter Communications in a research note on Monday, July 27th. Barclays lowered their price target on Charter Communications from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, July 27th. Finally, UBS Group dropped their price target on Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $202.53.

Charter Communications Stock Performance

The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $13.33 billion, a PE ratio of 2.90, a PEG ratio of 0.23 and a beta of 0.70. The firm has a 50 day moving average price of $129.37 and a 200-day moving average price of $146.29.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, beating analysts’ consensus estimates 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 earned $9.18 earnings per share. Charter Communications’s revenue for the quarter was down 1.7% on a year-over-year basis. Research analysts expect that Charter Communications, Inc. will post 42.92 EPS for the current fiscal year.

Institutional Trading of Charter Communications

Several large investors have recently made changes to their positions in CHTR. Manchester Capital Management LLC increased its stake in shares of Charter Communications by 803.7% in the third quarter. Manchester Capital Management LLC now owns 488 shares of the company’s stock worth $54,000 after acquiring an additional 434 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in Charter Communications during the third quarter valued at $3,896,000. Sterling Capital Management LLC lifted its position in Charter Communications by 3,053.3% during the third quarter. Sterling Capital Management LLC now owns 75,144 shares of the company’s stock valued at $8,333,000 after purchasing an additional 72,761 shares during the period. Yousif Capital Management LLC lifted its position in Charter Communications by 371.8% during the third quarter. Yousif Capital Management LLC now owns 65,131 shares of the company’s stock valued at $7,223,000 after purchasing an additional 51,325 shares during the period. Finally, Compass Wealth Management LLC purchased a new stake in Charter Communications in the third quarter valued at $2,648,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

About Charter Communications

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.