Royal Bank Of Canada Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its target price reduced by stock analysts at Royal Bank Of Canada from $160.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 16.80% from the company’s previous close.

A number of other research analysts have also weighed in on CHTR. Sanford C. Bernstein reissued a “market perform” rating and set a $150.00 target price on shares of Charter Communications in a research report on Monday. Bank of America reiterated a “buy” rating on shares of Charter Communications in a research note on Monday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. Citigroup dropped their price target on Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Finally, UBS Group reiterated a “neutral” rating and set a $235.00 price target on shares of Charter Communications in a report on Thursday, June 25th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $240.12.

Charter Communications Stock Performance

CHTR stock traded up $5.11 during midday trading on Monday, hitting $128.42. 454,971 shares of the company traded hands, compared to its average volume of 2,729,850. Charter Communications has a twelve month low of $111.55 and a twelve month high of $309.40. The stock has a market capitalization of $15.79 billion, a price-to-earnings ratio of 3.33, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The business has a 50 day simple moving average of $136.02 and a 200-day simple moving average of $183.82.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $13.53 billion during the quarter, compared to analysts’ expectations of $13.51 billion. During the same period in the previous year, the company earned $9.18 earnings per share. Charter Communications’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts predict that Charter Communications will post 41.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Balan Nair purchased 1,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $175.46 per share, with a total value of $175,460.00. Following the acquisition, the director directly owned 12,029 shares in the company, valued at approximately $2,110,608.34. The trade was a 9.07% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher L. Winfrey acquired 3,468 shares of Charter Communications stock in a transaction on Tuesday, April 28th. The stock was purchased at an average price of $172.23 per share, with a total value of $597,293.64. Following the transaction, the chief executive officer directly owned 74,409 shares in the company, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 20,125 shares of company stock valued at $3,167,116 in the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CHTR. Cassaday & Co Wealth Management LLC acquired a new stake in Charter Communications during the first quarter worth $25,000. Quarry LP increased its holdings in Charter Communications by 153.2% in the 4th quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after buying an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of Charter Communications in the 4th quarter valued at $25,000. DV Equities LLC acquired a new position in shares of Charter Communications in the 4th quarter valued at $25,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after acquiring an additional 55 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Company Profile

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.