Analysis of Oversold Stocks in Communication Services Sector
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Benzinga
- iHeartMedia Downgrade: Goldman Sachs analyst downgraded iHeartMedia from Neutral to Sell, lowering the price target from $4 to $3.5, resulting in a 20% stock price drop over the past month, with an RSI of 29.6 indicating oversold conditions.
- Reddit Stock Performance: Guggenheim analyst reiterated a Buy rating for Reddit with a $245 price target, despite a 13% decline in stock price over the past five days, and an RSI of 28.8 suggesting potential for a rebound.
- Charter Communications Rating Adjustment: Wells Fargo downgraded Charter Communications from Equal-Weight to Underweight, reducing the price target from $240 to $180, leading to a 12% decline in stock price over the past month, with an RSI of 27.8 indicating significant oversold status.
- Market Trend Analysis: Benzinga Pro's charting tool highlights trends in these oversold stocks, providing investors with insights to assess short-term investment opportunities, particularly when RSI values fall below 30.
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Analyst Views on CHTR
Wall Street analysts forecast CHTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CHTR is 286.91 USD with a low forecast of 165.00 USD and a high forecast of 428.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
5 Buy
6 Hold
2 Sell
Hold
Current: 182.810
Low
165.00
Averages
286.91
High
428.00
Current: 182.810
Low
165.00
Averages
286.91
High
428.00
About CHTR
Charter Communications, Inc. is a broadband connectivity company and cable operator serving more than 57 million homes and businesses in 41 states through its Spectrum brand. Over an advanced communications network, the Company offers a range of residential and business services, including Spectrum Internet, television (TV), Mobile and Voice. For small businesses, Spectrum Business delivers a range of broadband products and services coupled with special features and applications to enhance productivity. For mid-market and large businesses, Spectrum Business provides customized, fiber-based solutions. Spectrum Reach delivers advertising and production for the modern media landscape. The Company also distributes news coverage and sports programming to its customers through Spectrum Networks. The Company offers its customers subscription-based Internet, video, mobile and voice services, with prices and related charges based on the types of service selected.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Charter Communications Set to Announce Q4 Earnings
- Earnings Announcement Date: Charter Communications (CHTR) is set to release its Q4 earnings on January 30 before market open, with consensus EPS estimate at $9.83, reflecting a 4.7% year-over-year decline, and revenue expected at $13.73 billion, down 1.4% year-over-year.
- Historical Performance Review: Over the past two years, CHTR has beaten EPS estimates 50% of the time and revenue estimates 63% of the time, indicating a degree of stability in the company's financial performance.
- Expectation Revision Dynamics: In the last three months, EPS estimates have seen three upward revisions and eight downward revisions, while revenue estimates have had no upward revisions and 14 downward revisions, reflecting market caution regarding the company's future performance.
- Market Focus: The earnings release from Charter Communications will attract significant attention, particularly in the current economic climate, as investor reactions to its performance could impact its stock price trajectory.
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Charter Communications Q4 Earnings Preview
- Earnings Release Announcement: Charter Communications is set to release its fourth-quarter earnings before the market opens on January 30, with analysts forecasting earnings per share of $9.88, down from $10.1 in the same period last year, indicating potential profitability challenges for the company.
- Revenue Expectations Decline: The anticipated quarterly revenue is $13.73 billion, lower than last year's $13.93 billion, suggesting that the company may face growth challenges in a highly competitive market environment.
- Debt Financing Update: On January 13, Charter disclosed the successful issuance of $3.0 billion in senior unsecured notes, which will aid in optimizing its capital structure and supporting future investment plans.
- Stock Price Movement: On Thursday, Charter's shares rose by 4.8% to close at $191.52, reflecting a market optimism about its future performance despite the declining earnings outlook.
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