Charter Communications (NASDAQ:CHTR) Sets New 52-Week Low – What’s Next?

Charter Communications, Inc. (NASDAQ:CHTR) reached a new 52-week low during trading on Thursday . The company traded as low as $156.14 and last traded at $156.52, with a volume of 2950862 shares. The stock had previously closed at $158.23.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CHTR. JPMorgan Chase & Co. started coverage on shares of Charter Communications in a research report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 price target for the company. Benchmark decreased their price target on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Sanford C. Bernstein decreased their target price on Charter Communications from $220.00 to $210.00 and set a “market perform” rating on the stock in a research note on Monday, April 27th. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a report on Monday, February 16th. Finally, Wells Fargo & Company upped their target price on shares of Charter Communications from $180.00 to $200.00 and gave the stock an “underweight” rating in a research report on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Charter Communications presently has an average rating of “Hold” and an average target price of $315.67.

Charter Communications Stock Down 3.4%

The business has a 50-day moving average of $214.85 and a 200 day moving average of $213.88. The company has a market capitalization of $19.05 billion, a PE ratio of 4.18, a P/E/G ratio of 0.28 and a beta of 0.76. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing the consensus estimate of $10.01 by ($0.84). The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.42 EPS. Equities research analysts predict that Charter Communications, Inc. will post 43 earnings per share for the current year.

Insider Activity at Charter Communications

In other Charter Communications news, Director Wade Davis acquired 5,728 shares of the stock in a transaction on Tuesday, April 28th. The stock was acquired at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the completion of the transaction, the director directly owned 6,925 shares of the company’s stock, valued at $1,203,011. This trade represents a 478.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Balan Nair acquired 1,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $175.46 per share, with a total value of $175,460.00. Following the completion of the purchase, the director directly owned 12,029 shares in the company, valued at approximately $2,110,608.34. This represents a 9.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 10,196 shares of company stock valued at $1,767,822. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC purchased a new stake in Charter Communications during the first quarter valued at approximately $25,000. Quarry LP boosted its holdings in shares of Charter Communications by 153.2% in the 4th quarter. Quarry LP now owns 119 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the period. Altshuler Shaham Ltd bought a new position in shares of Charter Communications during the 4th quarter valued at approximately $25,000. DV Equities LLC purchased a new stake in Charter Communications during the 4th quarter valued at $25,000. Finally, Webster Bank N. A. bought a new stake in Charter Communications in the third quarter worth $28,000. Institutional investors own 81.76% of the company’s stock.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.