Charter Communications (CHTR) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a sell rating in a report released on Wednesday morning.
According to Zacks, “We remain worried about Charter's operation in a saturated and competitive multi-channel U.S. video market. The company continues to face stiff competition from online TV streaming service providers. We view the company's high debt level and consolidation-related woes as potential hazards. However, the company reported better-than-expected earnings per share and revenues in the fourth-quarter 2017. Additionally, both metrics improved on a year-over-year basis. Despite cord-cutting, the company reported a net gain of 15,000 video, 300,000 Internet and 53,000 voice customers in the reported quarter, respectively. The company’s wireless venture, with plans to launch its wireless services in 2018, look impressive. The company further plans to execute field trials for 5G wireless network. The stock price grew 9.4% in the past three months, outperforming its industry's 6.3% growth.”
CHTR has been the subject of a number of other research reports. Barclays downgraded Charter Communications from an equal weight rating to an underweight rating and boosted their target price for the stock from $267.01 to $283.00 in a research report on Monday, December 4th. BidaskClub upgraded Charter Communications from a strong sell rating to a sell rating in a research report on Wednesday, December 27th. Pivotal Research restated a buy rating and set a $420.00 target price (up previously from $405.00) on shares of Charter Communications in a research report on Friday, October 27th. Macquarie restated a buy rating on shares of Charter Communications in a research report on Sunday, October 29th. Finally, Moffett Nathanson restated a neutral rating on shares of Charter Communications in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $396.11.
Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, February 2nd. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.60 billion. Charter Communications had a return on equity of 1.11% and a net margin of 23.80%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 earnings per share. equities research analysts expect that Charter Communications will post 4.92 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHTR. Advisor Group Inc. increased its holdings in Charter Communications by 15.8% in the second quarter. Advisor Group Inc. now owns 1,130 shares of the company’s stock valued at $375,000 after purchasing an additional 154 shares during the last quarter. Gotham Asset Management LLC increased its holdings in Charter Communications by 26.5% in the second quarter. Gotham Asset Management LLC now owns 5,743 shares of the company’s stock valued at $1,935,000 after purchasing an additional 1,203 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Charter Communications by 2.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 3,880 shares of the company’s stock valued at $1,307,000 after purchasing an additional 80 shares during the last quarter. Colony Group LLC increased its holdings in Charter Communications by 6.8% in the second quarter. Colony Group LLC now owns 813 shares of the company’s stock valued at $274,000 after purchasing an additional 52 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its holdings in Charter Communications by 48,155.6% in the second quarter. Archford Capital Strategies LLC now owns 4,343 shares of the company’s stock valued at $1,347,000 after purchasing an additional 4,334 shares during the last quarter. Institutional investors and hedge funds own 72.05% of the company’s stock.
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About Charter Communications
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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