Charter Communications (NASDAQ:CHTR) Downgraded by Wolfe Research to Underperform

Charter Communications (NASDAQ:CHTR) was downgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “underperform” rating in a research note issued to investors on Monday, Briefing.com reports. They presently have a $300.00 target price on the stock. Wolfe Research’s price target indicates a potential downside of 8.04% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities lifted their price target on shares of Charter Communications from $292.00 to $329.00 and gave the company a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Charter Communications from $300.00 to $385.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Pivotal Research increased their price target on Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their price objective on Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Morgan Stanley increased their target price on Charter Communications from $330.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $356.41.

Charter Communications Trading Up 2.9 %

CHTR stock opened at $326.22 on Monday. Charter Communications has a 1-year low of $236.08 and a 1-year high of $458.30. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84. The business’s 50 day moving average is $344.58 and its 200-day moving average is $303.59. The firm has a market cap of $46.99 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.61 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. The firm had revenue of $13.69 billion for the quarter, compared to analysts’ expectations of $13.59 billion. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $8.05 earnings per share. Equities analysts anticipate that Charter Communications will post 32.52 earnings per share for the current fiscal year.

Institutional Trading of Charter Communications

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital International Investors grew its stake in shares of Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after purchasing an additional 3,685,451 shares during the period. Pzena Investment Management LLC grew its position in shares of Charter Communications by 6.1% during the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock worth $903,932,000 after buying an additional 175,130 shares during the period. Putnam Investments LLC increased its stake in shares of Charter Communications by 24.5% in the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after acquiring an additional 242,448 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Charter Communications by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 712,550 shares of the company’s stock valued at $212,998,000 after acquiring an additional 69,959 shares during the period. Finally, First Pacific Advisors LP boosted its stake in Charter Communications by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 612,604 shares of the company’s stock worth $183,144,000 after acquiring an additional 12,218 shares during the last quarter. 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.