Trading Report: The Moffett Nathanson lowers the Stock rating of Charter Communications, Inc. (CHTR)

The Moffett Nathanson lowers the Stock rating of Charter Communications, Inc. (CHTR)

Charter Communications, Inc. (NASDAQ:CHTR) was downgraded by Moffett Nathanson from a “buy” rating to a “neutral” rating in a report released on Tuesday. They currently have a $305.00 price objective on the stock. Moffett Nathanson’s target price suggests a potential upside of 18.73% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other equities analysts also recently weighed in on the company. Argus reissued a “buy” rating and set a $300.00 price target on shares of Charter Communications in a research report on Wednesday, August 24th. Telsey Advisory Group raised their price target on Charter Communications from $246.00 to $302.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Investment Research downgraded Charter Communications from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 29th. Bank of America Corp. started coverage on Charter Communications in a research report on Tuesday, August 2nd. They set a “buy” rating and a $300.00 price target for the company. Finally, Morgan Stanley reissued an “overweight” rating on shares of Charter Communications in a research report on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $287.86.

Charter Communications (NASDAQ:CHTR) opened at 256.89 on Tuesday. The firm has a market cap of $69.60 billion, a price-to-earnings ratio of 11.47 and a beta of 0.67. Charter Communications has a 1-year low of $156.13 and a 1-year high of $279.95. The company’s 50-day moving average price is $266.33 and its 200 day moving average price is $234.62.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.28. The firm earned $9.99 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Charter Communications had a return on equity of 0.19% and a net margin of 20.59%. Charter Communications’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.09) earnings per share. On average, equities analysts expect that Charter Communications will post $0.60 earnings per share for the current fiscal year.

In other Charter Communications news, Director Craig A. Jacobson sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $258.15, for a total transaction of $774,450.00. Following the transaction, the director now owns 16,563 shares in the company, valued at $4,275,738.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mauricio Ramos acquired 1,000 shares of Charter Communications stock in a transaction on Thursday, August 18th. The shares were bought at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now owns 1,997 shares of the company’s stock, valued at $509,235. The disclosure for this purchase can be found here. Company insiders own 1.51% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. CKW Financial Group acquired a new position in Charter Communications during the second quarter valued at approximately $103,000. Brave Asset Management Inc acquired a new position in Charter Communications during the second quarter valued at approximately $104,000. Glenmede Trust Co. NA acquired a new position in Charter Communications during the second quarter valued at approximately $107,000. Daiwa SB Investments Ltd. acquired a new position in Charter Communications during the second quarter valued at approximately $110,000. Finally, Meeder Asset Management Inc. acquired a new position in Charter Communications during the second quarter valued at approximately $110,000. Institutional investors own 77.10% of the company’s stock.

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