Charter Communications (NASDAQ:CHTR) Reaches New 12-Month Low – Time to Sell?

Charter Communications, Inc. (NASDAQ:CHTR) reached a new 52-week low during trading on Monday. The company traded as low as $106.91 and last traded at $105.5340, with a volume of 198660 shares changing hands. The stock had previously closed at $109.29.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHTR. Morgan Stanley reduced their target price on Charter Communications from $150.00 to $140.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Arete Research raised Charter Communications to a “strong sell” rating in a research note on Thursday, October 1st. Royal Bank Of Canada reduced their price target on shares of Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a research report on Monday, July 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a research report on Monday, September 21st. Finally, Bank of America reaffirmed a “buy” rating on shares of Charter Communications in a research note on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, Charter Communications currently has a consensus rating of “Reduce” and a consensus price target of $202.53.

Charter Communications Trading Up 0.8%

The business has a 50 day moving average of $139.73 and a two-hundred day moving average of $155.56. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The firm has a market cap of $12.96 billion, a P/E ratio of 2.82, a PEG ratio of 0.23 and a beta of 0.70.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm had revenue of $13.53 billion during the quarter, compared to analysts’ expectations of $13.51 billion. During the same period in the previous year, the business posted $9.18 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts predict that Charter Communications, Inc. will post 42.72 earnings per share for the current year.

Institutional Trading of Charter Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in Charter Communications by 28.4% during the first quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock worth $157,961,000 after acquiring an additional 161,888 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Charter Communications by 1,547.4% in the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock valued at $93,170,000 after purchasing an additional 405,385 shares during the last quarter. Sei Investments Co. grew its position in shares of Charter Communications by 79.2% in the first quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock valued at $54,078,000 after purchasing an additional 110,684 shares during the last quarter. Swiss National Bank increased its stake in shares of Charter Communications by 1.5% during the first quarter. Swiss National Bank now owns 246,896 shares of the company’s stock worth $53,300,000 after purchasing an additional 3,560 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Charter Communications by 737.5% during the second quarter. Tidal Investments LLC now owns 241,503 shares of the company’s stock worth $34,344,000 after purchasing an additional 212,668 shares during the period. Institutional investors own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc is a telecommunications and media company that provides broadband connectivity and related communications services in the United States. Its consumer-facing operations are marketed primarily under the Spectrum brand and include high-speed internet, video entertainment, mobile wireless service and voice communications.

Charter also serves businesses and public-sector organizations with internet access, data networking, telephone, video and managed communications solutions.