Charter Communications (NASDAQ:CHTR) Given New $240.00 Price Target at Sanford C. Bernstein

Charter Communications (NASDAQ:CHTR) had its price target cut by analysts at Sanford C. Bernstein from $280.00 to $240.00 in a report released on Thursday,MarketScreener reports. The firm presently has a “market perform” rating on the stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 23.32% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. BNP Paribas Exane lowered their price target on Charter Communications from $255.00 to $200.00 and set an “underperform” rating on the stock in a report on Tuesday, November 4th. KeyCorp reissued a “sector weight” rating on shares of Charter Communications in a report on Monday, November 3rd. UBS Group dropped their price target on Charter Communications from $355.00 to $233.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Benchmark decreased their price objective on shares of Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $180.00 price objective (down from $240.00) on shares of Charter Communications in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $314.88.

Charter Communications Price Performance

Shares of CHTR traded down $7.73 during trading hours on Thursday, reaching $194.61. The company had a trading volume of 2,113,924 shares, compared to its average volume of 1,751,844. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 4.89. Charter Communications has a 12-month low of $193.00 and a 12-month high of $437.06. The firm has a 50 day simple moving average of $205.77 and a 200-day simple moving average of $260.88. The company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 0.54 and a beta of 1.06.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.The company had revenue of $13.67 billion for the quarter, compared to analysts’ expectations of $13.76 billion. During the same period in the prior year, the firm posted $8.82 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Research analysts expect that Charter Communications will post 38.16 earnings per share for the current year.

Insider Buying and Selling

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the sale, the director directly owned 10,146 shares of the company’s stock, valued at $2,294,822.28. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.

Institutional Trading of Charter Communications

A number of hedge funds have recently bought and sold shares of CHTR. AQR Capital Management LLC boosted its holdings in shares of Charter Communications by 129.1% during the first quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock worth $4,356,000 after purchasing an additional 6,691 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Charter Communications by 16.3% during the first quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock worth $336,000 after buying an additional 128 shares during the period. Jones Financial Companies Lllp boosted its stake in Charter Communications by 48.1% in the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock worth $493,000 after buying an additional 435 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after buying an additional 55 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Charter Communications by 451.1% during the 1st quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock valued at $270,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.