Royal Bank Of Canada Cuts Charter Communications (NASDAQ:CHTR) Price Target to $160.00

Charter Communications (NASDAQ:CHTR) had its price objective reduced by Royal Bank Of Canada from $220.00 to $160.00 in a report released on Monday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other brokerages have also recently issued reports on CHTR. Sanford C. Bernstein restated a “market perform” rating and set a $210.00 price objective on shares of Charter Communications in a report on Tuesday, May 26th. JPMorgan Chase & Co. cut their target price on shares of Charter Communications from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday. Benchmark reduced their price target on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Wells Fargo & Company lowered their price objective on shares of Charter Communications from $170.00 to $160.00 and set an “underweight” rating for the company in a research report on Tuesday, July 7th. Finally, New Street Research dropped their price objective on Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $249.12.

Charter Communications Trading Up 1.1%

NASDAQ:CHTR opened at $129.22 on Monday. 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 $402.15. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of 3.49, a PEG ratio of 0.23 and a beta of 0.71. The business’s 50-day moving average price is $136.79 and its two-hundred day moving average price is $185.02.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $8.42 earnings per share. On average, equities analysts expect that Charter Communications will post 41.47 earnings per share for the current year.

Insider Activity

In related news, Director Mauricio Ramos acquired 9,929 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the transaction, the director directly owned 19,309 shares of the company’s stock, valued at approximately $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were bought at an average price of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the acquisition, 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 ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 20,125 shares of company stock worth $3,167,116. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

Large investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of 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 purchasing an additional 3,626,135 shares during the period. Dodge & Cox boosted its position in shares of Charter Communications by 23.7% during the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock worth $3,049,675,000 after buying an additional 2,801,671 shares during the period. Norges Bank bought a new position in shares of Charter Communications during the fourth quarter worth about $555,383,000. Voyager Global Management LP lifted its stake in Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after acquiring an additional 1,725,000 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after acquiring an additional 1,617,148 shares in the last quarter. Institutional investors 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.