Charter Communications (NASDAQ:CHTR) Downgraded to Sell at Citigroup

Citigroup cut shares of Charter Communications (NASDAQ:CHTR) from a neutral rating to a sell rating in a report published on Wednesday, MarketBeat reports. The brokerage currently has $255.00 price objective on the stock, down from their previous price objective of $280.00.

CHTR has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on shares of Charter Communications from $370.00 to $335.00 and set a neutral rating for the company in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on Charter Communications from $375.00 to $320.00 and set a hold rating for the company in a research report on Tuesday, April 16th. Wells Fargo & Company decreased their target price on Charter Communications from $290.00 to $260.00 and set an equal weight rating on the stock in a research report on Monday, April 29th. Barclays dropped their target price on shares of Charter Communications from $280.00 to $250.00 and set an underweight rating for the company in a report on Tuesday, April 2nd. Finally, UBS Group decreased their price target on shares of Charter Communications from $360.00 to $325.00 and set a neutral rating on the stock in a report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $341.47.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $301.25 on Wednesday. The company has a market cap of $43.39 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.11 and a beta of 1.04. Charter Communications has a fifty-two week low of $236.08 and a fifty-two week high of $458.30. The company has a debt-to-equity ratio of 6.28, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average price of $276.06 and a 200-day moving average price of $303.87.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, April 26th. The company reported $7.55 earnings per share for the quarter, missing the consensus estimate of $7.78 by ($0.23). Charter Communications had a return on equity of 31.42% and a net margin of 8.50%. The firm had revenue of $13.68 billion for the quarter, compared to the consensus estimate of $13.75 billion. During the same period in the prior year, the company earned $6.65 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Charter Communications will post 32.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

A number of institutional investors have recently made changes to their positions in CHTR. AQR Capital Management LLC raised its holdings in Charter Communications by 9.7% during the 3rd quarter. AQR Capital Management LLC now owns 14,782 shares of the company’s stock worth $6,501,000 after purchasing an additional 1,311 shares during the last quarter. Sei Investments Co. lifted its holdings in Charter Communications by 42.1% in the third quarter. Sei Investments Co. now owns 92,317 shares of the company’s stock valued at $40,603,000 after buying an additional 27,353 shares during the period. Schroder Investment Management Group boosted its position in Charter Communications by 37.0% during the third quarter. Schroder Investment Management Group now owns 66,184 shares of the company’s stock valued at $29,109,000 after acquiring an additional 17,873 shares during the last quarter. Royal Bank of Canada raised its position in shares of Charter Communications by 103.3% in the 3rd quarter. Royal Bank of Canada now owns 101,179 shares of the company’s stock worth $44,499,000 after acquiring an additional 51,417 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in shares of Charter Communications by 44.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 13,817 shares of the company’s stock valued at $6,077,000 after purchasing an additional 4,263 shares during the period. Institutional investors 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.