JPMorgan Chase & Co. Lowers Charter Communications (NASDAQ:CHTR) Price Target to $150.00

Charter Communications (NASDAQ:CHTR) had its price target reduced by JPMorgan Chase & Co. from $200.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.60% from the stock’s current price.

Several other brokerages have also recently issued reports on CHTR. Barclays reduced their target price on Charter Communications from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday. The Goldman Sachs Group reduced their price objective on Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, July 2nd. Benchmark reaffirmed a “buy” rating on shares of Charter Communications in a report on Wednesday, July 22nd. Wells Fargo & Company lowered their target price on Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday. Finally, BNP Paribas Exane cut their target price on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, July 14th. Five equities research 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 data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $226.88.

Charter Communications Price Performance

CHTR traded up $4.82 during trading on Wednesday, hitting $144.79. 2,655,022 shares of the company traded hands, compared to its average volume of 2,764,390. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 4.32. The company has a market cap of $17.81 billion, a PE ratio of 3.75, a P/E/G ratio of 0.24 and a beta of 0.71. The stock’s 50-day simple moving average is $135.78 and its two-hundred day simple moving average is $182.80. Charter Communications has a 1 year low of $111.55 and a 1 year high of $285.96.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.51 billion. During the same quarter in the previous year, the company earned $9.18 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Charter Communications will post 41.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mauricio Ramos bought 9,929 shares of Charter Communications stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the purchase, the director owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas Rutledge sold 18,200 shares of the stock in a transaction on Wednesday, May 27th. The shares were 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 in the company, valued at approximately $583,057.92. This represents a 82.10% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charter Communications

Hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position 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 worth $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 valued at $3,049,675,000 after buying an additional 2,801,671 shares during the period. Norges Bank purchased a new position in shares of Charter Communications during the fourth quarter valued at approximately $555,383,000. Voyager Global Management LP grew its stake in shares of Charter Communications by 1,380.0% during the fourth quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock valued at $386,188,000 after buying an additional 1,725,000 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after buying an additional 1,617,148 shares during the period. 81.76% of the stock is currently owned by institutional investors.

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.