Charter Communications (NASDAQ:CHTR) Reaches New 12-Month Low After Earnings Miss

Shares of Charter Communications, Inc. (NASDAQ:CHTR) hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $236.08 and last traded at $251.78, with a volume of 639169 shares traded. The stock had previously closed at $259.10.

The company reported $7.55 earnings per share for the quarter, missing the consensus estimate of $7.78 by ($0.23). Charter Communications had a net margin of 8.35% and a return on equity of 32.32%. The firm had revenue of $13.68 billion for the quarter, compared to the consensus estimate of $13.75 billion. During the same quarter in the prior year, the firm earned $6.65 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Charter Communications from $370.00 to $335.00 and set a “neutral” rating on the stock in a research report on Monday, April 1st. Barclays dropped their target price on Charter Communications from $280.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, April 2nd. Benchmark dropped their target price on Charter Communications from $490.00 to $440.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Pivotal Research dropped their target price on Charter Communications from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Finally, Rosenblatt Securities dropped their target price on Charter Communications from $334.00 to $297.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $380.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wetzel Investment Advisors Inc. purchased a new stake in Charter Communications during the fourth quarter valued at $25,000. Riverview Trust Co purchased a new stake in Charter Communications during the first quarter valued at $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Charter Communications during the fourth quarter valued at $44,000. Cullen Frost Bankers Inc. increased its position in Charter Communications by 769.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in Charter Communications by 32.1% during the third quarter. Catalyst Capital Advisors LLC now owns 111 shares of the company’s stock valued at $49,000 after acquiring an additional 27 shares during the last quarter. 81.76% of the stock is owned by institutional investors.

Charter Communications Stock Performance

The company has a market cap of $36.98 billion, a PE ratio of 8.48, a PEG ratio of 0.45 and a beta of 0.96. The company has a debt-to-equity ratio of 6.51, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50-day moving average of $281.16 and a 200 day moving average of $347.46.

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.