Charter Communications (NASDAQ:CHTR) Sets New 52-Week Low on Disappointing Earnings

Charter Communications, Inc. (NASDAQ:CHTR)’s stock price reached a new 52-week low 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 EPS for the quarter, missing the consensus estimate of $7.78 by ($0.23). The company had revenue of $13.68 billion for the quarter, compared to analyst estimates of $13.75 billion. Charter Communications had a return on equity of 32.32% and a net margin of 8.35%. The business’s revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $6.65 earnings per share.

Analyst Ratings Changes

CHTR has been the subject of a number of analyst reports. UBS Group reduced their price target on Charter Communications from $360.00 to $325.00 and set a “neutral” rating for the company in a report on Thursday, March 28th. Sanford C. Bernstein raised Charter Communications from a “market perform” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research note on Monday, March 18th. Pivotal Research reduced their target price on Charter Communications from $500.00 to $450.00 and set a “buy” rating for the company in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Charter Communications from $375.00 to $320.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Finally, Barclays lowered their price target on shares of Charter Communications from $280.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Charter Communications has an average rating of “Hold” and an average target price of $380.80.

Institutional Trading of Charter Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. acquired a new stake in Charter Communications in the 4th quarter worth approximately $25,000. Riverview Trust Co bought a new stake in Charter Communications during the first quarter valued at about $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Charter Communications in the fourth quarter valued at about $44,000. Cullen Frost Bankers Inc. grew its position in shares of Charter Communications by 769.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Charter Communications by 32.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 111 shares of the company’s stock worth $49,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Trading Down 1.7 %

The company has a market capitalization of $36.98 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.46 and a beta of 0.96. The company has a 50-day simple moving average of $281.16 and a 200 day simple moving average of $348.14. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.31 and a current ratio of 0.31.

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.