Charter Communications (NASDAQ:CHTR) Cut to Peer Perform at Wolfe Research

Wolfe Research lowered shares of Charter Communications (NASDAQ:CHTR) from an outperform rating to a peer perform rating in a report issued on Wednesday, Marketbeat.com reports.

Other analysts have also issued research reports about the stock. Rosenblatt Securities increased their price objective on shares of Charter Communications from $292.00 to $329.00 and gave the stock a neutral rating in a research note on Monday, July 29th. The Goldman Sachs Group initiated coverage on shares of Charter Communications in a research note on Monday, July 1st. They issued a sell rating and a $250.00 price objective on the stock. Barclays increased their price objective on shares of Charter Communications from $250.00 to $300.00 and gave the stock an underweight rating in a research note on Monday, July 29th. Pivotal Research increased their price objective on shares of Charter Communications from $400.00 to $435.00 and gave the stock a buy rating in a research note on Monday, July 29th. Finally, Raymond James lowered shares of Charter Communications from a market perform rating to an underperform rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Charter Communications presently has a consensus rating of Hold and a consensus price target of $360.93.

Charter Communications Trading Down 1.0 %

Shares of Charter Communications stock opened at $373.16 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.40 and a debt-to-equity ratio of 5.84. Charter Communications has a 12-month low of $236.08 and a 12-month high of $458.30. The firm has a market capitalization of $53.26 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.70 and a beta of 1.04. The firm’s 50 day simple moving average is $303.49 and its two-hundred day simple moving average is $296.04.

Charter Communications (NASDAQ:CHTR) last issued its quarterly 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. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. The business had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. During the same quarter in the prior year, the business posted $8.05 EPS. Charter Communications’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Charter Communications will post 32.52 EPS for the current year.

Hedge Funds Weigh In On Charter Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in Charter Communications by 2.9% during the fourth quarter. Victory Capital Management Inc. now owns 102,802 shares of the company’s stock valued at $39,957,000 after purchasing an additional 2,940 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Charter Communications by 50.8% in the first quarter. Bessemer Group Inc. now owns 9,147 shares of the company’s stock worth $2,658,000 after buying an additional 3,080 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Charter Communications by 14.3% in the fourth quarter. Mackenzie Financial Corp now owns 47,854 shares of the company’s stock worth $18,600,000 after buying an additional 5,979 shares in the last quarter. Sands Capital Management LLC lifted its stake in shares of Charter Communications by 5.7% in the fourth quarter. Sands Capital Management LLC now owns 319,860 shares of the company’s stock worth $124,323,000 after buying an additional 17,112 shares in the last quarter. Finally, Oakcliff Capital Partners LP lifted its stake in shares of Charter Communications by 8.2% in the fourth quarter. Oakcliff Capital Partners LP now owns 38,474 shares of the company’s stock worth $14,954,000 after buying an additional 2,900 shares in the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.

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.