Charter Communications (NASDAQ:CHTR) Downgraded by Citigroup to “Sell”

Charter Communications (NASDAQ:CHTR) was downgraded by analysts at Citigroup from a “neutral” rating to a “sell” rating in a note issued to investors on Wednesday, Briefing.com reports. They currently have a $255.00 target price on the stock, down from their prior target price of $280.00. Citigroup’s price target would suggest a potential downside of 15.98% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company reduced their price target on Charter Communications from $290.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. UBS Group dropped their price objective on shares of Charter Communications from $360.00 to $325.00 and set a “neutral” rating on the stock in a research note on Thursday, March 28th. Rosenblatt Securities lowered their target price on shares of Charter Communications from $297.00 to $292.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Bank of America cut their price target on Charter Communications from $315.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. dropped their target price on Charter Communications from $370.00 to $335.00 and set a “neutral” rating on the stock in a report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Charter Communications has a consensus rating of “Hold” and a consensus price target of $341.47.

Charter Communications Stock Up 2.5 %

Shares of NASDAQ:CHTR opened at $303.50 on Wednesday. Charter Communications has a 1 year low of $236.08 and a 1 year high of $458.30. The company has a debt-to-equity ratio of 6.28, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50-day moving average is $275.31 and its 200 day moving average is $304.41. The company has a market cap of $43.71 billion, a PE ratio of 9.82, a P/E/G ratio of 1.11 and a beta of 1.04.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, April 26th. The company reported $7.55 EPS for the quarter, missing analysts’ consensus estimates of $7.78 by ($0.23). The business had revenue of $13.68 billion for the quarter, compared to the consensus estimate of $13.75 billion. Charter Communications had a net margin of 8.50% and a return on equity of 31.42%. Charter Communications’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.65 EPS. Sell-side analysts anticipate that Charter Communications will post 32.51 EPS for the current year.

Institutional Trading of Charter Communications

Several large investors have recently modified their holdings of the company. Wetzel Investment Advisors Inc. bought a new position in Charter Communications in the fourth quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new position in Charter Communications in the 1st quarter worth $34,000. Riverview Trust Co bought a new stake in Charter Communications during the first quarter valued at about $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Charter Communications in the fourth quarter worth about $44,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Charter Communications by 769.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock worth $44,000 after buying an additional 100 shares during the period. 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.