Charter Communications (NASDAQ:CHTR) Cut to “Underperform” at Wolfe Research

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

Several other research firms have also issued reports on CHTR. Pivotal Research boosted their target price on shares of Charter Communications from $400.00 to $435.00 and gave the company a buy rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of Charter Communications from $260.00 to $350.00 and gave the company an equal weight rating in a report on Monday, July 29th. TD Cowen boosted their target price on shares of Charter Communications from $488.00 to $525.00 and gave the company a buy rating in a report on Monday, July 29th. Rosenblatt Securities boosted their target price on shares of Charter Communications from $292.00 to $329.00 and gave the company a neutral rating in a report on Monday, July 29th. Finally, Morgan Stanley boosted their target price on shares of Charter Communications from $330.00 to $360.00 and gave the company an equal weight rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charter Communications has an average rating of Hold and an average price target of $356.41.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $322.39 on Monday. The firm has a market cap of $46.43 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 0.61 and a beta of 1.05. The firm’s fifty day moving average is $345.45 and its 200-day moving average is $304.35. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.39 and a current ratio of 0.39. Charter Communications has a 52 week low of $236.08 and a 52 week high of $458.30.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, topping analysts’ consensus estimates of $7.98 by $0.51. The company had revenue of $13.69 billion for the quarter, compared to analyst estimates of $13.59 billion. Charter Communications had a net margin of 8.51% and a return on equity of 30.11%. Charter Communications’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.05 earnings per share. Sell-side analysts predict that Charter Communications will post 32.52 earnings per share for the current year.

Institutional Investors Weigh In On Charter Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors increased its position in shares of Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after acquiring an additional 3,685,451 shares in the last quarter. Pzena Investment Management LLC grew its position in Charter Communications by 6.1% in the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock worth $903,932,000 after purchasing an additional 175,130 shares in the last quarter. Putnam Investments LLC grew its position in Charter Communications by 24.5% in the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock worth $479,337,000 after purchasing an additional 242,448 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Charter Communications by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 712,550 shares of the company’s stock worth $212,998,000 after purchasing an additional 69,959 shares in the last quarter. Finally, First Pacific Advisors LP grew its position in Charter Communications by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 612,604 shares of the company’s stock worth $183,144,000 after purchasing an additional 12,218 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

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.