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

Wolfe Research cut 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 reports. They currently have $300.00 target price on the stock.

A number of other brokerages have also recently commented on CHTR. Bank of America upped their price target on shares of Charter Communications from $360.00 to $385.00 and gave the company a neutral rating in a research note on Monday, July 29th. Barclays increased their target price 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. Rosenblatt Securities increased their target price 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. Royal Bank of Canada initiated coverage on shares of Charter Communications in a research note on Thursday, September 19th. They issued a sector perform rating and a $345.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on shares of Charter Communications from $260.00 to $350.00 and gave the stock an equal weight rating in a research note on Monday, July 29th. Four 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. Based on data from MarketBeat.com, Charter Communications has a consensus rating of Hold and an average target price of $356.41.

Charter Communications Stock Performance

Shares of CHTR stock opened at $322.39 on Monday. The stock has a market capitalization of $46.43 billion, a P/E ratio of 10.43, a PEG ratio of 0.61 and a beta of 1.05. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 5.84. The firm’s 50 day moving average is $345.45 and its 200 day moving average is $304.35. Charter Communications has a 12 month low of $236.08 and a 12 month high of $458.30.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 26th. The company reported $8.49 EPS for the quarter, beating analysts’ consensus estimates of $7.98 by $0.51. The company had revenue of $13.69 billion for 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 revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $8.05 EPS. On average, sell-side analysts anticipate that Charter Communications will post 32.52 earnings per share for the current year.

Hedge Funds Weigh In On Charter Communications

Institutional investors have recently made changes to their positions in the stock. Capital International Investors grew its holdings in shares of Charter Communications by 53.6% during the 1st quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock valued at $3,068,661,000 after purchasing an additional 3,685,451 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Charter Communications by 96.5% during the 1st quarter. Pzena Investment Management LLC now owns 2,848,459 shares of the company’s stock valued at $827,848,000 after purchasing an additional 1,399,034 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Charter Communications by 172,425.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock valued at $104,188,000 after purchasing an additional 348,299 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of Charter Communications by 24.5% during the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock valued at $479,337,000 after purchasing an additional 242,448 shares during the last quarter. Finally, Voyager Global Management LP grew its holdings in shares of Charter Communications by 35.7% during the 4th quarter. Voyager Global Management LP now owns 475,000 shares of the company’s stock valued at $184,623,000 after purchasing an additional 125,000 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

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.