Charter Communications (NASDAQ:CHTR) Price Target Lowered to $190.00 at Citigroup

Charter Communications (NASDAQ:CHTR) had its target price lowered by research analysts at Citigroup from $230.00 to $190.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 23.87% from the stock’s current price.

A number of other research firms also recently weighed in on CHTR. Freedom Capital raised Charter Communications to a “hold” rating in a report on Friday, June 12th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a research note on Tuesday, May 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a research report on Wednesday. Benchmark dropped their price objective on Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. initiated coverage on Charter Communications in a report on Wednesday, April 29th. They set a “neutral” rating and a $215.00 target price on the stock. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $276.00.

Charter Communications Trading Up 14.8%

Shares of CHTR traded up $19.74 during trading hours on Monday, hitting $153.38. 4,581,809 shares of the stock traded hands, compared to its average volume of 2,629,469. The firm has a market capitalization of $18.86 billion, a PE ratio of 4.15, a price-to-earnings-growth ratio of 0.23 and a beta of 0.72. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications has a 1-year low of $124.05 and a 1-year high of $422.29. The business has a fifty day moving average of $155.75 and a 200-day moving average of $194.41.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same period last year, the firm earned $8.42 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts expect that Charter Communications will post 43 EPS for the current year.

Insider Transactions at Charter Communications

In related news, Director Thomas Rutledge sold 18,200 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the completion of the sale, the director directly owned 3,968 shares of the company’s stock, valued at approximately $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher L. Winfrey purchased 3,468 shares of Charter Communications stock in a transaction that occurred on Tuesday, April 28th. The shares were bought at an average price of $172.23 per share, with a total value of $597,293.64. Following the transaction, the chief executive officer owned 74,409 shares of the company’s stock, valued at $12,815,462.07. This trade represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 20,125 shares of company stock worth $3,167,116. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHTR. Dodge & Cox lifted its stake in Charter Communications by 23.7% in the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares during the last quarter. Vanguard Group Inc. raised its stake in Charter Communications by 9.5% in the 4th quarter. Vanguard Group Inc. now owns 10,248,287 shares of the company’s stock valued at $2,139,330,000 after acquiring an additional 885,935 shares during the period. State Street Corp increased its stake in shares of Charter Communications by 22.7% in the third quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after purchasing an additional 1,475,383 shares in the last quarter. Capital Research Global Investors grew its stake in Charter Communications by 304.9% in the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after buying an additional 3,626,135 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after purchasing an additional 1,617,148 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

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.