Charter Communications (NASDAQ:CHTR) Cut to Market Perform at Oppenheimer

Oppenheimer lowered shares of Charter Communications (NASDAQ:CHTR) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group began coverage on Charter Communications in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price objective for the company. Citigroup cut their price target on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a report on Monday. UBS Group decreased their price objective on Charter Communications from $425.00 to $355.00 and set a “neutral” rating on the stock in a research note on Monday, July 28th. Royal Bank Of Canada lowered their price objective on Charter Communications from $325.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Charter Communications has a consensus rating of “Reduce” and an average price target of $329.56.

Charter Communications Stock Down 3.2%

CHTR opened at $217.86 on Tuesday. The stock has a market capitalization of $29.76 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.55 and a beta of 1.04. The firm has a 50 day moving average price of $258.13 and a 200-day moving average price of $325.39. Charter Communications has a twelve month low of $214.83 and a twelve month high of $437.06. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share for the quarter, missing the consensus estimate of $9.66 by ($1.32). The firm had revenue of $13.67 billion for the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. Charter Communications’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $8.82 earnings per share. Equities research analysts forecast that Charter Communications will post 38.16 earnings per share for the current year.

Institutional Investors Weigh In On Charter Communications

Several institutional investors have recently made changes to their positions in the company. SouthState Corp bought a new position in Charter Communications in the 1st quarter valued at $25,000. Atlantic Union Bankshares Corp bought a new stake in shares of Charter Communications during the second quarter worth $25,000. Salem Investment Counselors Inc. boosted its stake in shares of Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after purchasing an additional 61 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Charter Communications in the second quarter worth about $28,000. Finally, Webster Bank N. A. bought a new position in shares of Charter Communications in the third quarter worth about $28,000. 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.