Charter Communications (NASDAQ:CHTR) Given New $430.00 Price Target at KeyCorp

Charter Communications (NASDAQ:CHTR) had its target price decreased by KeyCorp from $500.00 to $430.00 in a research report sent to investors on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities analysts also recently commented on CHTR. The Goldman Sachs Group initiated coverage on Charter Communications in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price objective on the stock. UBS Group cut their price target on Charter Communications from $425.00 to $355.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Barclays decreased their price objective on Charter Communications from $341.00 to $275.00 and set an “underweight” rating for the company in a report on Monday, July 28th. Wells Fargo & Company began coverage on shares of Charter Communications in a report on Thursday, August 21st. They set an “equal weight” rating and a $300.00 price objective on the stock. Finally, Wolfe Research upgraded shares of Charter Communications from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 20th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Charter Communications currently has a consensus rating of “Hold” and a consensus price target of $385.76.

Charter Communications Price Performance

CHTR opened at $280.01 on Friday. Charter Communications has a fifty-two week low of $251.80 and a fifty-two week high of $437.06. The firm has a 50-day moving average of $267.30 and a 200 day moving average of $342.50. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $38.25 billion, a P/E ratio of 7.67, a PEG ratio of 0.62 and a beta of 1.05.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company had revenue of $13.77 billion during the quarter, compared to analysts’ expectations of $13.76 billion. During the same quarter in the previous year, the firm earned $8.49 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, research analysts expect that Charter Communications will post 38.16 EPS for the current year.

Insider Buying and Selling at Charter Communications

In other news, Director Balan Nair bought 360 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the acquisition, the director owned 9,622 shares of the company’s stock, valued at approximately $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher L. Winfrey purchased 3,670 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $273.10 per share, for a total transaction of $1,002,277.00. Following the acquisition, the chief executive officer owned 70,243 shares in the company, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

Hedge funds have recently made changes to their positions in the business. SouthState Corp purchased a new position in Charter Communications during the 1st quarter valued at $25,000. Atlantic Union Bankshares Corp purchased a new position in shares of Charter Communications during the second quarter valued at approximately $25,000. Salem Investment Counselors Inc. raised its stake in Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Charter Communications in the 2nd quarter worth about $28,000. Finally, Heritage Wealth Advisors bought a new position in shares of Charter Communications in the second quarter worth approximately $29,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.