Charter Communications (NASDAQ:CHTR) Trading Down 4.6% – Here’s What Happened

Charter Communications, Inc. (NASDAQ:CHTR) traded down 4.6% during trading on Thursday . The stock traded as low as $151.81 and last traded at $151.6970. 533,213 shares traded hands during trading, a decline of 81% from the average daily volume of 2,741,064 shares. The stock had previously closed at $158.97.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CHTR shares. Benchmark reiterated a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Wells Fargo & Company lowered their price target on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, July 27th. JPMorgan Chase & Co. reduced their price objective on Charter Communications from $200.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Zacks Research raised Charter Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, UBS Group lowered their target price on Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Charter Communications currently has a consensus rating of “Hold” and a consensus price target of $226.88.

Charter Communications Stock Performance

The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $17.99 billion, a PE ratio of 3.92, a price-to-earnings-growth ratio of 0.31 and a beta of 0.69. The firm’s 50 day moving average price is $142.54 and its 200-day moving average price is $172.53.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHTR. Geneos Wealth Management Inc. grew its position in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after purchasing an additional 55 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Charter Communications during the 1st quarter worth about $25,000. Quarry LP lifted its stake in Charter Communications by 153.2% in the 4th quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after buying an additional 72 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Charter Communications in the 4th quarter valued at about $25,000. Finally, DV Equities LLC acquired a new stake in Charter Communications in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

About Charter Communications

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.