Charter Communications (CHTR) Lowered to Sell at BidaskClub

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Charter Communications (NASDAQ:CHTR) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other research firms have also recently issued reports on CHTR. Zacks Investment Research raised Charter Communications from a “hold” rating to a “buy” rating and set a $391.00 price objective on the stock in a research report on Tuesday, February 26th. Royal Bank of Canada set a $400.00 target price on shares of Charter Communications and gave the company a “buy” rating in a research note on Saturday, February 2nd. TD Securities boosted their target price on shares of Charter Communications from $385.00 to $405.00 and gave the company a “buy” rating in a research note on Friday, February 1st. Credit Suisse Group reiterated a “neutral” rating and set a $345.00 target price (up from $294.00) on shares of Charter Communications in a research note on Friday, February 1st. Finally, Cowen boosted their target price on shares of Charter Communications from $337.00 to $357.00 and gave the company an “outperform” rating in a research note on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $359.22.

CHTR stock opened at $352.71 on Wednesday. The company has a market capitalization of $77.19 billion, a P/E ratio of 67.57, a price-to-earnings-growth ratio of 1.20 and a beta of 1.40. Charter Communications has a 12-month low of $250.10 and a 12-month high of $354.47. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 1.57.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Thursday, January 31st. The company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.20). The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.15 billion. Charter Communications had a net margin of 2.82% and a return on equity of 2.70%. As a group, analysts forecast that Charter Communications will post 7.54 EPS for the current year.

In other news, CAO Kevin D. Howard sold 14,197 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $343.18, for a total value of $4,872,126.46. Following the completion of the sale, the chief accounting officer now directly owns 3,059 shares in the company, valued at approximately $1,049,787.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Hargis sold 15,000 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $339.51, for a total value of $5,092,650.00. Following the completion of the sale, the executive vice president now owns 15,964 shares of the company’s stock, valued at $5,419,937.64. The disclosure for this sale can be found here. Insiders sold a total of 57,233 shares of company stock valued at $19,544,909 over the last 90 days. 0.83% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Capital International Investors increased its stake in shares of Charter Communications by 752.5% in the 3rd quarter. Capital International Investors now owns 3,674,059 shares of the company’s stock worth $1,197,302,000 after purchasing an additional 3,243,090 shares in the last quarter. Longview Partners Guernsey LTD purchased a new stake in shares of Charter Communications in the 4th quarter worth $846,691,000. Geode Capital Management LLC increased its stake in shares of Charter Communications by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock worth $630,980,000 after purchasing an additional 167,729 shares in the last quarter. Northern Trust Corp increased its stake in Charter Communications by 1.5% in the 4th quarter. Northern Trust Corp now owns 1,998,946 shares of the company’s stock worth $569,640,000 after buying an additional 28,704 shares in the last quarter. Finally, Norges Bank purchased a new stake in Charter Communications in the 4th quarter worth $360,022,000. Hedge funds and other institutional investors own 74.67% of the company’s stock.

About Charter Communications

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.

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Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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