Charter Communications (NASDAQ:CHTR) Sets New 12-Month Low – Here’s Why

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $126.61 and last traded at $126.2060, with a volume of 3029226 shares traded. The stock had previously closed at $132.00.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CHTR. Deutsche Bank Aktiengesellschaft lowered their target price on Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. BNP Paribas Exane reduced their price target on Charter Communications from $160.00 to $150.00 and set an “underperform” rating for the company in a research note on Tuesday, February 24th. JPMorgan Chase & Co. initiated coverage on Charter Communications in a research report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 price objective on the stock. Benchmark lowered their price objective on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Finally, Citigroup dropped their target price on Charter Communications from $290.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $290.38.

Charter Communications Price Performance

The company’s fifty day moving average price is $168.66 and its 200 day moving average price is $197.92. The company has a market capitalization of $15.53 billion, a P/E ratio of 3.41, a PEG ratio of 0.24 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56.

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 analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the previous year, the firm posted $8.42 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Charter Communications, Inc. will post 43 EPS for the current year.

Insider Activity at Charter Communications

In other news, Director Thomas Rutledge sold 18,200 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the sale, the director directly owned 3,968 shares of the company’s stock, valued at approximately $583,057.92. This represents a 82.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Balan Nair purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was bought at an average cost of $175.46 per share, with a total value of $175,460.00. Following the purchase, the director owned 12,029 shares of the company’s stock, valued at $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. Insiders acquired a total of 20,125 shares of company stock worth $3,167,116 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently made changes to their positions in CHTR. Capital Research Global Investors boosted its position in shares of Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after acquiring an additional 3,626,135 shares in the last quarter. Dodge & Cox raised its position in Charter Communications by 23.7% during the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares in the last quarter. Norges Bank bought a new stake in Charter Communications during the fourth quarter worth $555,383,000. Voyager Global Management LP boosted its holdings in shares of Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after purchasing an additional 1,725,000 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after purchasing an additional 1,617,148 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 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.