Charter Communications (NASDAQ:CHTR) Price Target Cut to $190.00 by Analysts at Citigroup

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

Several other equities analysts have also weighed in on the stock. Benchmark reduced their target price on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Royal Bank Of Canada reduced their price objective on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a research report on Monday, April 27th. UBS Group reissued a “neutral” rating and set a $235.00 price target on shares of Charter Communications in a report on Thursday. Finally, JPMorgan Chase & Co. initiated coverage on Charter Communications in a research report on Wednesday, April 29th. They issued a “neutral” rating and a $215.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $276.00.

Charter Communications Trading Up 14.8%

Shares of CHTR traded up $19.74 during mid-day trading on Monday, hitting $153.38. The company had a trading volume of 4,581,809 shares, compared to its average volume of 2,629,469. Charter Communications has a 1-year low of $124.05 and a 1-year high of $422.29. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. The business’s 50-day simple moving average is $155.75 and its 200-day simple moving average is $194.41. The stock has a market cap of $18.86 billion, a PE ratio of 4.15, a P/E/G ratio of 0.23 and a beta of 0.72.

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). The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $8.42 EPS. Sell-side analysts forecast that Charter Communications will post 43 earnings per share for the current year.

Insider Transactions at Charter Communications

In related news, Director Balan Nair bought 1,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $175.46 per share, for a total transaction of $175,460.00. Following the completion of the acquisition, the director directly owned 12,029 shares in the company, valued at approximately $2,110,608.34. This represents a 9.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Rutledge sold 18,200 shares of the business’s stock in a transaction 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 owned 3,968 shares of the company’s stock, valued at $583,057.92. The trade was a 82.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders purchased a total of 20,125 shares of company stock valued at $3,167,116 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Charter Communications

Institutional investors have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC acquired a new position in shares of Charter Communications in the 1st quarter worth approximately $25,000. Quarry LP lifted its holdings in shares of Charter Communications by 153.2% during the fourth quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Charter Communications in the 4th quarter valued at $25,000. DV Equities LLC bought a new stake in shares of Charter Communications in the 4th quarter worth about $25,000. Finally, Geneos Wealth Management Inc. increased its position 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 purchasing an additional 55 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

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.