Charter Communications (NASDAQ:CHTR) Stock Price Down 4.6% – Here’s What Happened

Shares of Charter Communications, Inc. (NASDAQ:CHTR) dropped 4.6% on Friday. The stock traded as low as $105.14 and last traded at $104.5720. 1,370,738 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 2,791,893 shares. The stock had previously closed at $109.67.

Analysts Set New Price Targets

Several analysts have weighed in on CHTR shares. Arete Research raised Charter Communications to a “strong sell” rating in a research report on Thursday, October 1st. Morgan Stanley decreased their target price on Charter Communications from $150.00 to $140.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Zacks Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating and set a $150.00 price target on shares of Charter Communications in a research note on Monday, July 27th. Finally, TD Cowen dropped their price target on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Charter Communications presently has a consensus rating of “Reduce” and a consensus target price of $202.53.

Charter Communications Trading Down 6.2%

The company’s fifty day moving average is $138.32 and its 200-day moving average is $154.09. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market capitalization of $12.27 billion, a PE ratio of 2.67, a price-to-earnings-growth ratio of 0.22 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business 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 business posted $9.18 EPS. Charter Communications’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts anticipate that Charter Communications, Inc. will post 42.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently bought and sold shares of CHTR. Central Pacific Bank Trust Division increased its position in shares of Charter Communications by 14.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 6,135 shares of the company’s stock worth $680,000 after purchasing an additional 752 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Charter Communications by 10.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,745 shares of the company’s stock worth $675,000 after acquiring an additional 463 shares in the last quarter. Tidal Investments LLC boosted its holdings in Charter Communications by 737.5% in the second quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock valued at $34,344,000 after purchasing an additional 212,668 shares in the last quarter. MCF Advisors LLC boosted its holdings 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 buying an additional 115 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of Charter Communications by 569.0% during the second quarter. Engineers Gate Manager LP now owns 13,407 shares of the company’s stock worth $1,907,000 after purchasing an additional 11,403 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Company Profile

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.