Charter Communications (NASDAQ:CHTR) Downgraded by BidaskClub

Charter Communications (NASDAQ:CHTR) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

Several other brokerages have also weighed in on CHTR. Citigroup initiated coverage on Charter Communications in a research report on Thursday, June 13th. They issued a “buy” rating and a $480.00 target price on the stock. Royal Bank of Canada raised their target price on PVH to $145.00 and gave the stock an “outperform” rating in a research note on Friday, March 29th. Rosenblatt Securities began coverage on Charter Communications in a research report on Thursday, June 13th. They set a “buy” rating and a $480.00 price target for the company. Zacks Investment Research upgraded Forum Energy Technologies from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Wednesday, March 6th. Finally, Macquarie began coverage on Charter Communications in a research note on Wednesday, June 19th. They set a “hold” rating and a $390.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Charter Communications currently has a consensus rating of “Buy” and a consensus price target of $396.94.

Charter Communications stock traded up $1.06 during trading hours on Wednesday, hitting $415.62. 501,506 shares of the stock were exchanged, compared to its average volume of 1,144,066. The stock has a 50-day moving average of $395.42. Charter Communications has a 12 month low of $271.56 and a 12 month high of $417.03. The stock has a market capitalization of $92.68 billion, a PE ratio of 79.62, a P/E/G ratio of 1.35 and a beta of 1.24. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.62.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Tuesday, April 30th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.23). The company had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.20 billion. Charter Communications had a return on equity of 2.94% and a net margin of 2.98%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, sell-side analysts expect that Charter Communications will post 7.12 EPS for the current year.

In related news, Director Craig A. Jacobson sold 1,325 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $375.18, for a total transaction of $497,113.50. Following the completion of the transaction, the director now directly owns 12,773 shares of the company’s stock, valued at approximately $4,792,174.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lance Conn sold 927 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total value 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 disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Longview Partners Guernsey LTD purchased a new stake in Charter Communications during the 4th quarter valued at approximately $846,691,000. Norges Bank acquired a new stake in shares of Charter Communications in the 4th quarter worth approximately $360,022,000. Egerton Capital UK LLP grew its holdings in Charter Communications by 21.4% during the 1st quarter. Egerton Capital UK LLP now owns 2,846,860 shares of the company’s stock valued at $987,604,000 after buying an additional 502,358 shares during the last quarter. FIL Ltd grew its holdings in Charter Communications by 416.0% during the 1st quarter. FIL Ltd now owns 598,353 shares of the company’s stock valued at $207,575,000 after buying an additional 482,397 shares during the last quarter. Finally, Jackson Square Partners LLC grew its holdings in Charter Communications by 53.1% during the 1st quarter. Jackson Square Partners LLC now owns 1,149,607 shares of the company’s stock valued at $398,810,000 after buying an additional 398,865 shares during the last quarter. 71.92% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Ex-Dividend

Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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