Charter Communications (NASDAQ:CHTR) Lowered to Underperform at Wolfe Research

Wolfe Research lowered shares of Charter Communications (NASDAQ:CHTR) from a peer perform rating to an underperform rating in a research report report published on Monday morning, Marketbeat.com reports. Wolfe Research currently has $300.00 price target on the stock.

A number of other brokerages have also recently issued reports on CHTR. JPMorgan Chase & Co. increased their target price on Charter Communications from $300.00 to $385.00 and gave the stock a neutral rating in a report on Monday, July 29th. Rosenblatt Securities lifted their price target on Charter Communications from $292.00 to $329.00 and gave the company a neutral rating in a research report on Monday, July 29th. Citigroup raised Charter Communications from a sell rating to a neutral rating and set a $350.00 price objective on the stock in a report on Wednesday, September 11th. TD Cowen lifted their price target on Charter Communications from $488.00 to $525.00 and gave the stock a buy rating in a research note on Monday, July 29th. Finally, Bank of America lifted their price target on Charter Communications from $360.00 to $385.00 and gave the company a neutral rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $356.41.

Charter Communications Price Performance

NASDAQ CHTR opened at $324.08 on Monday. The company has a market capitalization of $46.68 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.61 and a beta of 1.05. Charter Communications has a 12-month low of $236.08 and a 12-month high of $458.30. The firm’s 50 day moving average is $344.80 and its 200-day moving average is $303.78. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 5.84.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Friday, July 26th. The company reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. The company had revenue of $13.69 billion during the quarter, compared to analysts’ expectations of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. Charter Communications’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.05 earnings per share. Equities research analysts anticipate that Charter Communications will post 32.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC raised its stake in Charter Communications by 5,500.0% during the 2nd quarter. CVA Family Office LLC now owns 112 shares of the company’s stock worth $33,000 after acquiring an additional 110 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Charter Communications in the first quarter valued at $34,000. Riverview Trust Co acquired a new position in Charter Communications in the first quarter valued at $40,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Charter Communications by 109.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 159 shares of the company’s stock valued at $48,000 after acquiring an additional 83 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Charter Communications in the second quarter valued at about $50,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Company Profile

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.