Charter Communications (NASDAQ:CHTR) Rating Lowered to Sell at BidaskClub

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BidaskClub downgraded shares of Charter Communications (NASDAQ:CHTR) from a hold rating to a sell rating in a research report sent to investors on Monday, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. ValuEngine cut Charter Communications from a buy rating to a hold rating in a research note on Thursday, August 1st. Pivotal Research reissued a buy rating and issued a $500.00 target price on shares of Charter Communications in a research note on Friday, July 26th. Credit Suisse Group increased their target price on Charter Communications from $370.00 to $400.00 and gave the company a neutral rating in a research note on Monday, July 29th. Cowen raised their price objective on Charter Communications from $413.00 to $433.00 and gave the company an in-line rating in a research note on Monday, July 29th. Finally, Raymond James raised their price objective on Charter Communications from $435.00 to $460.00 and gave the company a strong-buy rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Charter Communications presently has a consensus rating of Hold and an average target price of $416.06.

CHTR opened at $380.94 on Monday. The stock has a market cap of $83.34 billion, a PE ratio of 72.98, a P/E/G ratio of 1.29 and a beta of 1.23. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.67. Charter Communications has a 52 week low of $272.91 and a 52 week high of $417.13. The business’s fifty day simple moving average is $396.71 and its 200 day simple moving average is $371.88.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, July 26th. The company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.79 by ($0.40). The firm had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.40 billion. Charter Communications had a net margin of 3.04% and a return on equity of 3.08%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 EPS. As a group, equities analysts anticipate that Charter Communications will post 6.91 earnings per share for the current year.

In other news, Director Lance Conn sold 927 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total transaction of $370,800.00. Following the transaction, the director now directly owns 9,552 shares of the company’s stock, valued at $3,820,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $389.78, for a total transaction of $389,780.00. Following the sale, the director now owns 11,773 shares of the company’s stock, valued at $4,588,879.94. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Worldquant Millennium Advisors LLC boosted its holdings in shares of Charter Communications by 17.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 38,387 shares of the company’s stock worth $15,170,000 after purchasing an additional 5,816 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Charter Communications by 13,657.3% during the second quarter. Nuveen Asset Management LLC now owns 684,700 shares of the company’s stock worth $270,579,000 after purchasing an additional 679,723 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charter Communications by 6.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,068,923 shares of the company’s stock worth $422,417,000 after purchasing an additional 64,739 shares during the period. CSat Investment Advisory L.P. boosted its holdings in shares of Charter Communications by 2,246.7% during the second quarter. CSat Investment Advisory L.P. now owns 352 shares of the company’s stock worth $140,000 after purchasing an additional 337 shares during the period. Finally, Jefferies Group LLC boosted its holdings in shares of Charter Communications by 29.6% during the second quarter. Jefferies Group LLC now owns 21,063 shares of the company’s stock worth $8,324,000 after purchasing an additional 4,809 shares during the period. Institutional investors own 72.55% of the company’s stock.

Charter Communications Company Profile

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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